There's no comparison.
This can't even be compared to the crash of 1929 and burn of 1930's. There are Federal Reserves around the world that didn't exist then. There is a communication network that takes milliseconds to communicate anywhere on the planet that didn't exist then. The global economies of the world are linked at every level now, thus the coordinated Fed rate cut worldwide.
They said AIG was too big to fail and bailed them out for $85B (which they are now saying they may not need). Do you know what too big to fail is?
The U.S. Economy.
The most at risk of total wipe out are the OPEC nations. We sent them our money, a lot of it, for their oil. They took a very large chuck of that money and invested it in the U.S.
If we crumble, we don't buy their oil and their investments are worthless. Too big to fail. The world will come together with a 10 trillion dollar bailout if that's what it takes.
JMHO.