What's wrong with the way this circuit breaker panel is wired???

Overwhelming!  How long did it take you to write the report?

I freak everytime I see that old cloth covered wiring still in use.

Everytime I have run into that stuff , such as changing a luminaire it would crumble on me.

I notice a few of the neutral look rather long.

I take it the ground is through conduit.

Steve whats going on with the brass bolt on the main neutral?

Looks like you have a couple of different brand breakers too with the conductor on the left at the first Square D 20 amp seeming to come straight down and not be screwed in properly.

Not the kind of sub panels I see .Yikes

Going well, went full time.

Also giving my first public talk on Home Inspector Pro of all things.

"The biggest problem in this panel is that the multi wire circuit that is sharing the same neutral is not tied together at the main breakers. The potential danger is that if one circuit blows or is shut down, the second remains live and there is a potential shock hazzard."

That is an issue Steven, but a more onerous situation exists for the occupant by way of fire hazard.

Since the MWB circuit is being fed from one 120v leg the neutral serving the circuit is carrying the sum of the loads rather than the difference in the loads.

Properly wired, that is wired from two different legs, the MWB circuit would only carry the difference of the loads, so if one circuit was drawing 14 amps and the other was 13 amps, the neutral would carry only 1 amp. The most the neutral could carry is the full load from one circuit if the other circuit had no load, ie, the dishwasher is on an the disposer isn't.

The way this mwb circuit is wired, from one leg, means that if one circuit is drawing 14 amps and the other is drawing 13 amps, the neutral is carrying 27 amps.  I've found many mwb circuits running from the same leg because they were wired on space saver, or mini breakers. The neutrals serving these circuits are always the color of toast.

Regardless of the the bus bar attachment at the main panel, it would be dangerous to have two hots that are sharing a neutral going to different locations (panels). The neutral is still caring the difference in load and would energize metal components in the other panel----of course if the two lines do share the same bus bar back at the main panel, that would be even more dangerous.  Hopefully the neutral isn't also bonded to the remote panels----to compound the issue.