A similar situation to 2008 was already guaranteed to happen ever since the government of the U.S. bailed out the banks in 2008, supported by then-President George W. Bush as well as both of the party nominees, John McCain and Barack Obama.

Once the banks were bailed out they were proven to be 100% "correct" in their behaviour leading up to the financial crisis, so why would anyone possibly think that they should change?  The government rewarded them for causing the crisis and told them, in no uncertain terms, that they did no wrong.

Regulation, whether it exists or not, won't make a lick of difference, just as no one could point to any regulation in Canada that prevented a similar meltdown.