Paul Krugman, Princeton University professor, NYT columnist, winner of the 2008 Nobel Prize for Economics (on CNBC):

"In the last six days this thing has come together with a plan that really does address the critical problem of inadequate capital at the banks (and) addresses the need for guarantees to calm the markets down," said Krugman. "We don’t know this is going to work, I wish we were sure, but this is a much better. For the first time I’m starting to feel that policy is really getting some traction on the crisis."

Nouriel Roubini, NYU professor of economics, predicted the current financial crisis, says the recession will last 18-24 months (from Bloomberg):

"This will be the first round of recapitalization of the banks," Roubini said. "The government has to decide to intervene much more directly in the provision of credit and the management of these companies ... We're going to be surprised by the severity of the recession and the severity of the financial losses ... The stock market is going to stop rallying soon enough when they see the economy is really tanking," Roubini added.