Ok, so does this take the President off the hook? Not quite. From my response at The Green Knight (I took the liberty of correcting my grammar)
To state that no one could anticipate the breech of the levees is on its face an absurd claim. There is no excuse for the President not knowing that a Category 5 hurricane (what they would have been preparing for) aproaching New Orleans would not only possibly breech the levees, but would PROBABLY breech them.Update - Media Matters demonstrates the utter bankruptcy of the President's statement that no one could have anticipated the breech of the levees.
And in regards to the video, it doesn't really matter whether it said topped or breeched. The end result is flooding, which is what The President was trying to excuse FEMA's lack of preparedness for.