No, what shoved us down the crapper was the never-ending stream of golden yellow emanating from westminster palace and spraying far and wide.
Capitalism is simply the private ownership and use of capital - that is, money, resources and time, expended at the whim of the private owner of those things. Nothing more and nothing less.
What you're objecting to, without apparently realising it, isn't capitalism but essentially a form of fascism, where the state has merged its with monopoly corporate entities that it helped to create through regulation and control of the economy - said regulation being designed to prevent effective competition to the large corporate entities that have made themselves so willingly available to the piss-passers dangling themselves above hoi poloi.
That isn't capitalism. It's statism, which is the opposite of capitalism, and the end result isn't very pretty.