Similar to the stock market crash of 1987, the bloodletting of the 2008 version was relentless with portfolios falling off a cliff and decades of wealth wiped out. The financial shock waves are still being felt throughout the economy a year into the collapse.

Unlike collapses in the past, rather than occurring in a few days, the 2008 collapse took weeks with compounding fear and uncertainty building up in the months to follow.

Kicked off by the Lehman bankruptcy on Sept. 15, for much of September and October, fear, uncertainty, anxiety and anticipation drove both Wall Street and Washington.

One year ago today, the Dow Jones Industrial Average tanked over 500 points, or over four percent on this day on the apparent Armageddon of the world wide banking system.

Far to early to put up the mission accomplished banner, and with the memory still so fresh on the minds of many investors and unemployed, the year anniversary of the beginning of wide spread panic will pass with unease. Almost a moment of financial infamy that shook not only the United States, but the entire world as well will be remembered and learned from.

Many steps have been taken to bring both the economy and the financial system back from the brink. Near nationalizing of the banking industry, national takeover of two-thirds of the American auto industry, these are not the proudest moments in American financial history, but have served as a beacon. A beacon that warns of excessive greed and how the third deadly sin can bring the world nearly to its knees.

Both the United States and world economies appear on track for a full, but drawn out recovery. But investors, consumers and businesses alike will all not forget when the United States and the world with it, went from boom to bust nearly overnight.