A year ago, almost to the minute, I was here in New York, watching television reports of the aftermath of the election of Barack Obama as 44th President of the United States of America. I recall the sight of a lachrymose woman from the Midwest, standing outside her run-down house as the sun rose, giving thanks for her deliverance: not from George W Bush, but from the threat of foreclosure. I have no idea whether this poor woman kept the roof over her head; all I know is, if she did, it would have been no thanks to Mr Obama.
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