Here is an excellent post from Glenn Kessler at the Washington Post that provides background for the cause of 2008 financial crisis.

It is time for the Obama campaign to retire this talking point, no matter how much it seems to resonate with voters. The financial crisis of 2008 stemmed from a variety of complex factors, in particular the bubble in housing prices and the rise of exotic financial instruments. Deregulation was certainly an important factor, but as the government commission concluded, the blame for that lies across administrations, not just in the last Republican one.

In any case, the Bush tax cuts belong at the bottom of the list ”” if at all. Moreover, it is rather strange for the campaign to cite as its source an article that, according to the author, does not support this assertion.

Obama’s claim that the Bush tax cuts helped cause the economic crisis – The Washington Post