The Financial crisis of 2007-8 is, for the republicans, a result of government involvement in housing finance.
The Financial crisis of 2007-8 is not the result of massive deregulation in the 1980s and 1990s but a result of big government and big business having gotten in bed together, and the establishments of both the democratic and republican parties became the 'party of davos'.
The Financial crisis of 2007-8 is due to a toxic combination of big government in bed with wall street, birthed by the permissive culture of the 1960s. Which itself was generated by a prior generation that, traumatized by the slaughter of world war ii, attempted to shield its children from the harsh realities of the world, producing their lax moral standards and self-centeredness.
The Financial crisis of 2007-8 is, along with the rise of Trump, reflective of the beginning of a twenty year historical stage within a 100 year cycle historian william strauss has called 'the turning' a 20 year stage reflecting cataclysmic change in which the old order is destroyed and replaced.