So here's a question, which I'm putting to some of the knowledgeable people here with rules experience. Based on what we know from newspaper reports, the crew of the Metrolink train saw and called to the conductor over the radio that there was a solid yellow, about two miles before they encountered the red. The crew and the conductor would both have been aware of the BNSF freight pulling into the siding, the certain reason for the red.

Info that went to the LA Times (I would guess from an NTSB source familiar with the event recorder data) says the train was traveling at nearly 70 mph down the main as the BNSF train pulled into the siding. The conductor would have been pretty sure of a likely red down at the CP where the sideswipe did in fact take place, and he was aware of the yellow. He was also aware the crew wasn't slowing to 40 as provided in the rules (whether the slight rewording made this totally, absolutely clear or not).

What should the conductor have done? Would he have been within his rights to pull the emergency cord? Assuming no mechanical failure (at least one test conducted at the site of the accident said the brakes were working), what penalty would the conductor face in this accident, if any?