New York Mayor Michael Bloomberg said the opera's business model was *, and neither he nor the city would ride to its rescue.
There is a very faint and slightly unusual sound during the "t" of "faulty". It's almost as if the speaker did a "tut" - note that this does not involve saying the word "tut". It is more like flicking the tongue against the roof of the mouth while sucking in a small amount of air, resulting in what is sometimes written as "tsk". However, it was not enough to make the word unclear. It was clearly "faulty".
Remember - if you don't use correct capitalisation, punctuation and spacing, anything you write will be incorrect.