Without knowing the exact details, it is hard to comment but (and perhaps this is me showing a lack of understanding) with a element as critical as steering, is there not a 'safety net' that would stop an incident occurring, such as the one described by Em?
For instance, at a minium, an indicator on critical elements that make it easy to visually check the bolt is in the correct position or ideally, some form of cotter pin that holds the bolts in place? As I said, perhaps I am using layman's logic to an engineering problem.
Em, personally, were it me, I'd be writing to Matt Hole, detailing the facts, MMCs response and asking his opinion on it. I believe he comes from an engineering background, so it would be interesting to get his take on what happened and whether he believes it to be acceptable.
