The second crisis happened faster and resulted in a deeper loss of output and of employment, especially of men but with women also affected much more and for longer than in the earlier episode. Public debt jumped to a roughly equivalent proportion of GDP, but did so from a much lower base and much faster in the recent episode.
Asset prices moved sharply in both cases, but were far more important in the more recent episode. The boom before each new crisis tends to display subtle differences from what has gone before. It is these differences that can blind policy makers to the vulnerabilities that are building.