There's a lot that was terrible about Reagan. I've never drawn a clean line between him and the subprime crash of 2008, though. I mostly think of terrible tax policy and corporatism when I think of him.
In this episode of Talking Politics
, Adam Curtis frames what's commonly called neoliberalism as "management politics." He talks about it being practiced in China as well. You can't get people what they want, but you can manage their perception of things in order to keep things stable.
Reagan blatantly failed to get the lower and middle class more better wages and to reindustrialize it. (To "make America great again, so to speak.") So, his administration made it easier for people to borrow money to get all the things they want. And so they did, and they were mostly happy.
And of course, that had consequences, many of which did not land until after Reagan was dead.