The recession was not because of tax cuts. We had bailouts because of the sub prime mortgage bubble which came about because of moral hazard. The Glass-Steagall Act was officially killed by Gramm–Leach–Bliley Act. Lending institutions loaned to as many people as possible because there was no risk to themselves if the mortgage wasn’t paid. They sold the securities to investment banks who packaged them into CDOs and bribed rating agencies to give them AAA ratings and then they sold them to suckers.
The rapid loaning pushed up the price of housing the same way it does college tuition. Trump is calling to return the Glass Steagall regulation.
Trump calls for 21 century Glass Steagall Act