Who said he will create an "Ownership Society"? The financial crisis was largely created by Republican's deregulation policy. Big banks did toxic sub-prime loans without any responsibilities. I would say it was Clinton who started de-regulation but the wheel and brakes controller was Republican congress, as you indicated.
How many years Republicans have controlled congress before Democrats regained the control? You expect four years of Democrat congress with two under Bush to clear the mess and get back to right track? Remember, President is not just a driver without controlling of wheel and brakes. President has the veto power. Do you know how many times Bush vetoed in the last two years of his presidency? Do you know how many times Republicans threaten to filibuster Democrats' bills?
Don't over interpret the mid-term election. A lot of people will have buyer's remorse soon. Eight years of Republican government hasn't taught them enough lessons.