Martin Van Buren was an important American politician, serving as the eighth Vice President and eighth President of the United States. He helped organize the Democratic party and build its organizational structure. As President, he oversaw the country during a depression known as the Panic of 1837, for which he was largely blamed and contributed to his losing the 1840 election. Van Buren was born in 1782 in New York and began his political career as a lawyer before gaining prominence in the Democratic party.