"One Year Later: The Month That Shook The World"
ENGLEWOOD CLIFFS, N.J., September 1, 2009-One Year Later...How Far Have We Come...And Where Do We Go From Here?
Since 2001, easy credit, relaxed regulations, sub-prime mortgages, and exotic securities had led to a booming, post-9/11, U.S. stock market and economy. The rewards were big and the risks ignored. Then, the housing bubble began to burst in 2007 and the dangers, and the cracks in the system, started to appear. It all came to head in September 2008 as financial markets around the world plummeted, big banks went under, and the economy collapsed.
September marks the one-year anniversary of "The Month That Shook the World." All month long CNBC, First in Business Worldwide, examines how the biggest financial crisis since the Great Depression has changed our economy, the markets and the world. From unprecedented government intervention to a shrinking Wall Street to spiraling unemployment, all have their roots in last fall's financial meltdown. CNBC looks back at the crisis, reports on how the market and economy are doing now, and debates where it is headed.
Special programming includes:
September 10 - Banking on Geithner: A CNBC Town Hall Event with the Treasury Secretary(7pm ET) - America's financial system is moving past the crisis mode it's been in since the collapse of Lehman Brothers a year ago. But what exactly we're moving on to is not entirely clear, and the trillions that we're spending to save the banking industry and revive the economy is causing Americans to ask some very important questions: Where is our money going? Will the Government be a permanent partner in our capital markets? And is our financial system more stable today than it was a year ago? From our nation's capital, we take those questions to the man in charge of our money, Treasury Secretary Tim Geithner.
September 13 - 1 Year Later: Reflections from the Street (10pm ET) - CNBC's Maria Bartiromo sits down with the key players to get a first hand account of their role in the events of last September and the how the financial system has changed over the last year.
September 14 - 1 Year Later: The Week That Shook the World (8pm ET) - A look at the unprecedented events of last September. We'll tell you the global impact, the lessons learned and how Wall St changed the way it does business.
September 15 - 1 Year Later: Road to Recovery (8pm ET) - Recovering from the crisis one year later. A look at the industries and sectors most impacted and what's changed, the lessons learned and where the investment opportunities are in this new environment.
CNBC.com will also feature special coverage of this historic month. Launching on September 1, "This Day in History One Year Ago" (oneyearlater.cnbc.com) will give users an in-depth look at the biggest story of each day of the month told through images, special editorial and historical video. In addition, the site's special editorial report, "Boom, Bust & Blame," offers a comprehensive look at the economic collapse complete with 300 minutes of both new and historical video; personal, first person accounts from users on how they have weathered the storm; rich editorial content and newly created extensive stocks and graphs all chronicling the drama, pressure and most memorable moments of this complex story whose incredible economic, political and social ramifications will be felt for years to come.
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/.