When he became Chairman of the Federal Reserve a month before the crash, he had no idea he was in for the challenge of his lifetime. He recalls a light moment during a tense time.
Chairman of the NYSE on Black Monday, he watched the panic take hold and took steps to reassure the market. But all his plans and preparation could not prevent what was about to happen.
CNBC anchor Bill Griffeth reported extensively about the crash and analyzes the factors that contributed to it. Just before the crash, Griffeth and the staff at the Financial News Network in Los Angeles, prepared for whatever might happen the following week on Wall Street.
CNBC Anchor Sue Herera covered the crash and describes it as a day like none other in her career. Herera, then anchor for FNN, remembers the biggest challenge of covering black Monday.
Before he became a financial reporter, CNBC’s Anchor Joe Kernen was a retail broker for E.F. Hutton in Los Angeles. Building trust with his clients was a major part of the job. And, it wasn’t easy to face them after Black Monday.