General Discussion
In reply to the discussion: Was Jimmy Carter the most underrated president in history? [View all]kmla
(4,047 posts)He was elected by a relatively slim majority, aided by the backlash of the post-Watergate pardon by Gerald Ford of Richard Nixon.
His presidency was primarily derailed due to the harbored resentment of big business and big banks who colluded to raise the interest rates to unheard of levels in order to derail his presidency and subsequently elect a "pro-business" republican president. (Ronnie...) The botched Iranian hostage rescue didn't help his re-election chances either. (And to this day I'm still not convinced there was not a back-door agreement between Reagan-Bush and the Iranian regime to delay the hostage release until after the election/inauguration.)
He failed to be re-elected in large part due to the "Misery Index" (interest rate + unemployment rate), which was a marketing ploy by the republican party that was used effectively against him during the campaign season.
The defeat of Jimmy Carter and election of Reagan in '80 election led directly to the Savings and Loan crisis of the late '80's/early '90s. You would have thought we would have learned our lesson about deregulating the banking industry. But obviously we didn't. And now the idiots are talking about relaxing banking regulations again...