Why was the Panic of 1837 significant for President Van Buren?

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The Panic of 1837 was significant for President Van Buren because he had to respond to it, but was hampered by his own party's laissez-faire policies, which ultimately doomed his reelection. Van Buren's failure to address the economic crisis effectively led to his defeat in the 1840 presidential election, which was won by the Whig candidate William Henry Harrison. The Whigs blamed Van Buren and the Democrats for the crisis, which further strengthened their popular appeal.

Why Was the Panic of 1837 Significant for President Van