A final term paper of a PhD course. The subject: Building upon the framework of Financialization and Adaptation of Regulation Approach; the plan for this paper will be on examining detailed features of 2007-08 Global Financial Crises, its causes and results, the historical background through a detailed literature survey of different Schools and Regulation Regimes, comparison with previous crises and its phases with respect to patterns of capitalist accumulations, finally ending up with its effects on a worsened global income distribution, namely capitalism’s income inequality emergency, and a rather brief review of capitalism reforms needed to overcome, at least as a start, the threatening income gap