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You're reading: The case for re-electing President Barack Obama

However,
the economy didn’t just fall off the cliff. 
It was driven off by the reckless actions of big Wall Street financiers
who, with their fraudulent fancy financial tricks, had overinflated the U.S.
housing market and created paper securities that were worthless in real value.

The
catastrophic collapse that ensued pulled down most of the developed economies
of world.  Obama was faced with an
economy at home that was hemorrhaging 750,000 jobs a month, two wars – paid for
on a credit card — and the imminent bankruptcy of the American auto industry.  It might have been 1932 all over again.

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