It was the Clinton administration that caused the markets to be in the mess they are today. Not strictly Clinton himself per se but Larry Summers, Robert Rubin and Sandy Weill and their involvement in dismantling Glass Steagall in order to allow the merger of Citibank and Travellers. It was this that led to the securities fraud that caused the 08 crash to happen. None of the administrations that have followed has dealt with this problem adequately either. it's been bye bye capitalism and hello plutocracy and neoFeudalism.

I think it will be necessary for the crypto world to sort its own problems out so that it can offer an alternative to the current pseudo-capitalist situation in the fiat world rather than the other way round.

It could be that you need to do a full Adam Smith invisible hand and let everything sort itself out through mutual self interest. That will allow big crashes to occur and markets sort themselves out but it will also allow bad actors with lots of "cash" to wield a lot of power when the sector is small. Mass uptake in the real world will eliminate that as their power is diluted. Another alternative would be self-regulation - that would annoy purists though - who decides who the power brokers are and how is that regulation enforced.

Ok enough of my rant..... I'll be making more enemies than friends :P