ENGLEWOOD CLIFFS, N.J. October 9, 2007 –In the 1980's the markets were soaring and the place everyone wanted to be was Wall Street. An unprecedented five-year bull market with no end in sight and then came...October 19, 1987.
On Monday, October 15th at 9PM ET, CNBC, First in Business Worldwide, presents "October '87: Crash & Comeback." The documentary examines the biggest stock market crash in the nation's history told by the people who were there: the traders, the reporters who covered the crash, and the power brokers including Alan Greenspan, former Chairman of the Federal Reserve in 1987, John Phelan, former Chairman of the New York Stock Exchange and Leo Melamed, legendary trader and former head of the Chicago Mercantile Exchange.
"Black Monday didn't just change how the markets did business, but also impacted the way investors watched their bottom line," said Josh Howard, Vice President Long Form & Special Programming, CNBC. "'October '87: Crash & Comeback' provides the untold story of the biggest stock market crash in history and shows viewers not only the improvements made over the last 20-years, but also how Wall Street and business news became front and center."
"October '87: Crash & Comeback" begins in the exuberant summer of 1987 when the economy was flying high and the market was setting new records. CNBC investigates the warning signs that foreshadowed trouble to come and relives every stomach-churning minute of Black Monday-the day the market dropped 509 points and left the uncertainty of when and if the markets would open the next day.
Black Monday, October 19, 1987, left everyone from the White House to Wall Street wondering what caused the crash and, most importantly, could it happen again. CNBC analyzes the new procedures put in place to presumably prevent another market meltdown and illustrates how the darkest days for the financial markets gave birth to the greatest bull run of all time.
"October '87: Crash & Comeback" re-airs on October 15th at 12AM ET and on Monday October 29th at 9PM & 12AM ET.
CNBC is the recognized world leader in business news, providing real-time financial market coverage and business information to more than 340 million homes worldwide, including more than 95 million households in the United States and Canada. The network's Business Day programming (weekdays from 5:00 a.m.-7:00 p.m. ET) is produced at CNBC's headquarters in Englewood Cliffs, N.J., and also includes reports from CNBC news bureaus worldwide. Additionally, CNBC viewers can manage their individual investment portfolios and gain additional in-depth information from on-air reports by accessing http://www.cnbc.com.
Members of the media can receive more information about CNBC and its programming on the NBC Universal Media Village Web site at http://nbcumv.com/cnbc/.