Economists widely agree that the Great Recession of 2007-2009 was not caused by a single president, but rather resulted from a culmination of long-term systemic factors spanning multiple presidential administrations, including deregulation in the financial sector, widespread subprime mortgage lending practices, and complex housing market bubbles. The economic collapse escalated dramatically during the final year of George W. Bush's presidency and carried over into the early term of Barack Obama, prompting massive bipartisan federal intervention and legislative reform.