um i think this is a to simplistic view, the markets vary rarely behave in such uniformity, the biggest difference here is sub-prime & the yet to arrive alt-a waves hitting in 2009 & 2011 which are bigger than sub-prime. as i read once sub-prime is the tip of the iceberg the weakest link, we have yet to deal with cds & cdo contagion as well. if you were to make comparisons what about 1987 ? the market crash did not play out fully there, so maybe this will try to make up for it ? what i do believe is this is far bigger than any previous event & may take a long time to play out. play the rallies furtively ;))
