How to identifiy driver causing problems at boot time?

My Ubuntu live USB hangs on boot. I suspect a driver is causing the hang. How can I identify which driver actually causes the freeze?

Here are the details:

1. During boot I press F12 and select USB storage, when Ubuntu screen shows I select "try before installing" and the screen goes blank with blinking cursor in the left-top corner. Neither ctrl-alt-del nor power-off works. I need to hard power off the machine by holding the power button.
2. During boot I press F12 and select USB storage, when Ubuntu screen shows I press F6 and mark acpi=off, noapic, edd=on, nodmraid and nomodeset options, then I edit boot line by removing quiet splash and adding no_console_suspend initcall_debug options and press enter. Ubuntu boots but at certain point hangs with kernel panic messages. Neither ctrl-alt-del nor power-off works. I need to hard power off the machine by keeping power-off button for a few seconds.

Here is a screenshot:

Is there any way I can identify which drivers that are being loaded to tell which driver causes the hang and possibly disable it?