This year will most probably be remembered for all the bad things – terror attacks, job losses and fall of legendary institutions like Bear Stearns and Lehman Brothers.

In the last thirteen years in my professional career, I have not seen a worse year. While we all knew that the US sub-prime crisis would hit the financial markets sooner than later, none of us expected this mayhem.

The initial crash in January was almost welcome. The Indian stock markets had almost risen to surreal levels and all that decoupling talk was really hard to digest.

But post-June, when financial institutions started closing down or getting sold, the real fear began. Till then, it was a blip or in stock market parlance, a correction that was overdue. Things have really gone bad since then. Stories of job losses and salary cuts have become common now.

The rate cuts and capital infusion by all the central bankers have really not helped. Of course, the effects will not be immediately seen. But banks are quite wary about lending. From indiscriminate lending to no lending, many banks have come a long way.

And to round it off, after Delhi, Orissa and so many other cities… the Mumbai attacks. While critics have panned the media coverage by calling it elitist, I have a slightly different view.

Though floods or earthquakes cause many more deaths, this was something completely different. The number or kind of people were not important. It was simply about the audacity of it all.

While, we constantly hear about terrorists engaging in gun battles with the army in Jammu and Kashmir, we have never heard of a gun battle where terrorists fought the some 600-plus army and policemen for three full days in any of the major cities in India or perhaps, even world. As a Mumbaikar for my entire working life, I am sad to see the state of the hotels where I used to spend hours.

And, of course, the aftermath. Now that Pakistan has conveniently shrugged off any responsibility, India faces the tough challenge of making things happen.

As 2008 comes to an end, I pray that the next year is much better. Lesser terror attacks, fewer job losses and some turnaround in the stock market will definitely make me feel better. Guess, I am asking for too much…

But what is making me really happy is that this year is almost over. Goodbye, cruel 2008

- Joydeep