eaglecentral, you've got it.
Michael Gannon was very critical of both Admirals King and Andrews in his book Operation Drumbeat and brings up the points you mention. However, Clair Blair is equally critical of Gannon's line of thinking in his his two volume Hitler's U-Boat War. Blair points out, among other things, that the US just did not have the vessels for any convoy escort. King did the only two things he could have done: He conducted anti-sub patrols and scrounged for more vessels.
At the end of December 1941, the US had only 20 vessels available fo defense on the eastern seaboard. A mere 5 months later, we had a convoy system in place for the east coast, complete with escort vessels and air support. The second "happy time" was virtually over. In my view, this reflects credit on both King and Andrews.
Anyway, eaglecentral, over to you for your question.