Usage of "blew it"

The gist of Clinton’s speech was that today’s global food crisis shows how “we all blew it, including me when I was president,” by treating food crops as commodities instead of as a vital right of the world’s poor.

Could someone explain what does BLEW IT means here? Thanks

Hi Garliclover,

The ‘blew it’ here means they didn’t take the issue seriously. It was their big mistake to call food crops as commodities.

~Gray.

Thanks Gray

that’s right, blew up, means f…k up here… and we all know what to f…k up means…
I don’t want to be crude, but that’s the best sinonim for this…

thank you so much. it is quite clear now.