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<p>[QUOTE=&quot;johnmilton, post: 24604036, member: 101855&quot;]Hoover has consistently ranked as a low average president. The initial economic downturn was not his fault. He took office on March 4, 1929. Things went bad staring at the end of October. The problems and excess of agriculture products which depressed prices. Stock investors borrowed too much to buy stocks. They pumped up the market with borrowed funds which lead to speculate prices. Hoover signed the Smoot - Harley Tariff which discouraged world trade. Some argued that corporations did not share high profits by paying high wages to their employees. </p><p><br /></p><p>Hoover’s responses were too conservative and too small. Some have characterized his policy as “New Deal light.” Hoover also exhibited a sour demeanor. Unlike Franklin Roosevelt, he did not exude confidence. Hoover took the blame for the Great Depression, and ended his presidency. Hoover was a very bright man (He was a great engineer.) who was in the wrong place at the wrong time.[/QUOTE]</p><p><br /></p>

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