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Credit: ALM Credit: ALM

When President Barack Obama took the White House in 2009, he delivered an inauguration address against the backdrop of an economy reeling from the collapse of the housing market and accompanying financial crisis.

Obama spoke about the “clouds and raging storms” of an economy that had been “badly weakened.” The financial crisis, he declared then, had reminded the country that “without a watchful eye, the market can spin out of control.”

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