Bangalore: A President has to be very careful in each and every decision he makes, as it will affect his nation and his countrymen. Many legislating fiscal policy gets implemented only after president gives his consent. But sometimes these financial decisions go wrong and do more harm than any good to the nation. You cannot blame the Presidents for doing such financial mistakes, but you can hold them responsible for not preventing the financial crises from plundering your nation’s economy. Here is a list of presidents whose financial decisions created blunders, as reported by Investopedia.Com.

1. James Madison

Presidential term: March 4, 1809 – March 4, 1817

James Madison is history's first example of financially irresponsible presidents, whose foreign policy had backfired America’s economy. In 1793, Britain and France went to war. But America shared alliance and trade activities with France. Subsequently Britain started disrupting America trade activities with France.

To punish the British, Madison as Secretary of State at the time supported the Embargo Act of 1807 and excluded them from American trade. The act did more harm to Americans than the British, because it had lead to the declining of the country’s trade activities and sent America tumbling into a depression.

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