“ol’ Kinderhook” Martin Van Buren did not have an easy start in his term as president as the nation was in its first major depression since its independence. The Panic of 1837 was created during Jackson’s term as Jackson removed federal funding from the National bank into state banks known as “pet banks”. Van Buren attempted to tame the situation with the creation of an Independent Treasury to regulate spending. The failure of the banks and businesses and Van Buren’s extensions of Jacksonian ideals did not improve the situation. Although Van Buren’s administration did not create the depression, he was very much carrying the blame for it as he gained the nickname “Martin Van Ruin”. He would fail to be reelected as president after his term. Martin Van Buren’s greatest accomplishments did not occur during his term, but instead occurred during Jackson’s as Martin Van Buren organized the Democratic party. Perhaps his legacy would be different if he was president in a different time, but as a president his job is to bring his nation through hard times and he in the most part failed to do so.