Here's a link to a copied version on Youtube. It's a little easier to watch it there as you have the abilbity to speed it up which you can't do on JW org.
https://www.youtube.com/watch?v=Gz-q3YI5d88
At around the 13 minute mark he starts talking about the wrong expectations that Brothers had about 1975 and quotes from a Watchtower. In part Loesch says
"'statements made then and thereafter that this was only a poss-i-bil-ity, unfortunately, however' says the Watchtower 'along with such cautionary information there were other statements published that implied that such realization of hopes by that year was more a probability than a mere possibility, it is to be regretted' ADMITS THE WATCHTOWER 'it is to be regretted that these latter statements APPARENTLY overshadowed these cautionary ones and contributed to a buildup of the expectation already initiated'
In its issue of July 15 1976 the Watchtower, commenting on the inadvisability of setting our sights on a certain date stated 'If anyone has been disappointed through not following this line of thought, he should now concentrate on adjusting his viewpoints seeing that the word, ah, that it was not the word of God that failed or deceived him and brought disappointment but that his own understanding was based on wrong premises, In saying 'anyone' the Watchtower included all disappointed ones of Jehovah's Witnesses hence including ones having to do with the publication of the information that contributed to the build up of hopes centered on that date' end of quote. So very humbly the Watchtower admitted that, June 15, 1976
For the most part Loesch is simply repeating what was written in the Watchtower but he ends it with stating that it is the Watchtower that has been humble in admitting that it was disappointed individuals and individuals who were involved in the publication of the information that had failed and was deceitful.
This is nothing new but the big difference is that we have a Governing Body member who is part of their 'faithful and discreet slave' pointing the finger at those involved in Watchtower publications. He paints a division here between the FDS and those involved in the publication of this false information.
Who was involved in the publication of this information? We can't be sure but it appears that Fred Franz had a big part. But if we take their confession strictly as it is written then it includes all the Bethel workers involved in writing, printing and distributing those publications. Also, anyone donating to the Watchtower Organization could be said to have a hand in being involved. That's a lot of individuals when the blame should be humbly placed on the FDS. He had the opportunity to do this but chose not to.
It's not the Watchtower, which is just a thing or tool, that should be admitting anything but it is the FDS who was responsible for directing others to publish the nonsense.