I can't verify any of this info but here's some of what has been posted on this incident (I've read that the guy had a newborn baby at home)...
Just to clear the false presumptions in this thread - the driver was going approximately 150-165 mph down the front straight of the track when a Ferrari pulled out from the pits and into his driving path. He swerved to avoid a collision with the Ferrari and lost control of the Porsche and then slammed into a wall. Cutting the wheel in any car at 150-165 mph is probably going to result in some control issues, save for maybe a full blown F1 car. The driver was a well-respected member of a good amount of car forums including 6speedonline.com - a valued contributor that many looked up to. The passenger was a prospective CGT buyer going out for a hot lap. It's a very tragic incident and there are many, many people grieving as I write this. The driver is survived by his wife and few-month old daughter.
Here is more information if you are interested in knowing more about it:
http://forums.pelicanparts.com/show...threadid=224465
http://www.6speedonline.com/forums/...&threadid=27660
http://www.6speedonline.com/forums/...&threadid=27665