Of course, the biggest disappointment was Gore’s failure to handle Hurricane Katrina properly. Not only did the massive evacuation of New Orleans prove a costly and time-consuming overreaction, since the levees — fortified in 2003 — held up fine. The emergency management agency also took over 24 hours to set up trailers for evacuees along the Gulf Coast, leaving them without government housing assistance for a full day.
And from Niall Ferguson, here’s how 2009 went.
There was uproar when Timothy Geithner, US Treasury secretary, requested an additional $300bn to provide further equity injections for Citigroup, Bank of America and the seven other big banks, just a week after imposing an agonising “mega-merger” on the automobile industry. In Detroit, the Big Three had become just a Big One, on the formation of CGF (Chrysler-General Motors-Ford; inevitably, the press soon re-christened it “Can’t Get Funding”).