"IT WAS THE BEST OF TIMES, IT WAS THE WORST OF TIMES" …"
ENGLEWOOD CLIFFS, N.J., December 18, 2008 - It's been a year that both Wall Street and Main Street may want to forget thanks to bank failures, bailouts, rising housing foreclosures, and massive layoffs, capped off by what many believe is the ultimate Ponzi scheme, yet there are glimmers of hope and pride.
CNBC anchors and correspondents take stock of the year with a review of its biggest financial and economic stories in, "CNBC REPORTS 2008: A YEAR ON THE BRINK, anchored by Maria Bartiromo, and premiering Friday, December 19 at 8 PM ET.
CNBC First in Business Worldwide reviews the almost unimaginable collapse of Bear Stearns and Lehman Brothers, the unprecedented credit crisis that nearly crashed the nation's two biggest mortgage giants, Fannie Mae and Freddie Mac, as well as insurance giant AIG, and the possible end of the U.S. auto industry as Ford, GM and Chrysler face bankruptcy.
2008 will also be remembered as a year when some of the mighty fell hard, including New York Governor Eliot Spitzer, once the sheriff of Wall street and poster child for ethics, who was forced to resign as governor due to a prostitution scandal. Countering that, it was year of historic achievement as Americans elected their first African American president, Barack Obama, and American swimmer Michael Phelps captivated the country with his record breaking performance at the Beijing Olympics.
CNBC Reports through the prism of the smartest minds in financial journalism on the highs and lows, the laughter and the tears of 2008.
"CNBC REPORTS 2008: A YEAR ON THE BRINK" re-airs on Sunday, December 21st at 8PM, Wednesday, December 24th at 7PM and Thursday, December 25th at 4AM (Christmas morning), 6PM and 12AM (all times Eastern).
Sanford Cannold is Executive Producer of "CNBC REPORTS 2008: A YEAR ON THE BRINK." Justin Solomon, Jamie Corsi, and Kevin Kane are the shows producers. Jonathan Wald is the Senior Vice President, Business News at CNBC.
For more information, please log onto onthebrink.cnbc.com
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.
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