Would part of that better explanation include a conflict between financial and industrial growth objectives compounded by an anti-tax ideology, pushed by Wall Street, that encourages government to borrow from the rich as opposed to taxing them?
No.
It would be that the Fed kept rates artificially low, fueling a trade in borrowing money, lending it out as mortgages, securitizing them, and selling the bundles to China, et.al. The demand for mortgage paper led to higher housing prices, low rates and poor credit quality. Eventually those loans went belly up.
Sorry to discourage your anti-capitalist fantasies.