I agree with most of this, but I would expand on one point. "Republicans and Democrats treated financial firms as a class protected from capitalism for years, so long as the banks would keep feeding debt to American homeowners and consumers and to the federal government itself." With interest rates as low as they've been, many banks have been parking their capital in T-bills rather than lending it to "homeowners and consumers." In effect banks have taken bailouts from the government and then lent it right back to the government, which is patently ridiculous. Of course, this wouldn't occur if the federal budget were anywhere close to balanced in the first place.
"The financial crisis, and government’s response to it, remains with us, as does the debt that spurred the crisis. Ignoring it won’t make it go away."
Indeed.