Many of us used to ask this question probably for several times a day. Though the only correct answer is that, no one knows the correct answer.

Here I’ve just tried to list opinions of widely known experts on financial crisis in chronological order. Making a summary or conclusion is up to you. Anyways it could be useful to go through and get some sort of general perception of crisis and its possible duration:

17-Aug-2008. Morgan Stanley’s co-President Walid Chammah told he expects financial crisis will last untill end of 2009 or even first half of 2010.

10-Sep-2008. Josef Ackermann, chief executive of Deutsche Bank, stuck Wednesday to his optimistic prediction that the world financial crisis will be over soon.

05-Oct-2008.  Luxembourg Prime Minister and Eurogroup President Jean-Claude Juncker: "Financial crisis will last until mid-2009, believes crisis is the worst since 1929".

20-Oct-2008. Vice-President of the Russian Academy of Sciences Alexander Nekipelov said: “The global financial crisis will last, at best, up to the summer of 2009”.

25-Oct-2008. Germany's Finance Minister has predicted the global financial crisis will last at least until late 2009.

07-Nov-2008. Nobel Laureate Joseph E Stiglitz had predicted the global financial crisis will last untill November 2010.

21-Nov-2008. Poll in Korea revealed that 42% of local CEO’s believe that financial market will stabilize only in 2010.

19-Jan-2009. The financial crisis will end in the fourth quarter of 2009, although a rebound in growth will not be seen in that quarter, according to analysis by Paris-based credit insurer Coface S.A.

27-Jan-2009.  Bill Gates: Financial crisis will last a decade (January 2019).

18-Mar-2009. Federal Reserve chairman Ben Bernanke thinks the current recession could be over by the end of this (2009) year.

19-Mar-2009. Executive Secretary of the UN Economic Commission for Europe (UNECE) Jan Kubis said that the financial crisis engulfing the world will be over in some 18 months (September 2010).

25-Mar-2009. According to the UCLA Anderson report downturn in economy will continue during 2009, but in 2010 there is a good chance to start recovering.

22-Apr-2009. The IMF says the world economy's recovery is expected to begin only at the end of the year (2009) and that growth will recover to only 1.9 percent in 2010. 

14-May-2009.  Members of the Global Chamber Platform predict that crisis will end mid-2010. 

27-May-2009. According to the latest survey of National Association of Business Economics economic growth will rebound in the second half of 2009. The report predicts that GDP will turn positive in third quarter of 2009. Reduction of unemployment is expected in early 2010.

26-Jun-2009. "A U.S. recovery is likely to begin this autumn, the worst of the crisis has passed and it is "reasonable to be optimistic for 2010," internet search giant Google's chief executive Eric Schmidt said.