Will markets recover in 2009?

RGE - Latest Project Syndicate column: “Will Banks and Financial Markets Recover in 2009?”

Nouriel Roubini's column at RGE Monitor site states a few interesting facts:

• There is a growing consensus that the market bottom may have been reached;
• The crisis now spills into the real world and bankruptcies now will affect the insolvent institutions;
• The recovery is expected in 2010 if everything goes well.

Well, these sound good enough if you consider they are coming from Dr.Doom. The year 2009 may be difficult but at least there is the light at the end of the tunnel.