In 2010, when the Landrieu administration took office in New Orleans, we inherited a financial situation that the mayor compared to the massive oil spill occurring at that very time in the Gulf, the worst in US history. The city was nearly bankrupt. Much of what we faced was the result of factors—Hurricanes Katrina and Rita, the subsequent failure of the federal levees, the great recession—that were far from the prior administration of Mayor Ray Nagin’s control. Much was the result of a culture of ineffectiveness and inefficiency that predated his administration. But much was the result of gross mismanagement and corruption during his time in office, too.
"Preventing Bankruptcy and Transforming City Finances after Hurricane Katrina,"
New England Journal of Public Policy: Vol. 32:
1, Article 6.
Available at: https://scholarworks.umb.edu/nejpp/vol32/iss1/6