Crash in 1987 Wall Street Week

In 1970 Louis Rukeyser started the popular Public Broadcasting Service (PBS) series Wall Street Week, produced by Maryland Public Television, a PBS member station, at its facilities in Owings Mills, Maryland. The show ran for 32 years, reaching its ratings peak in the mid-1980s. Rukeyser took pride in creating the first television show which focused on Wall Street, using a combination of erudition, plainspokenness, and panache to make the arcane workings of the stock market and the economy better known to the public. In 1987, Wall Street Week was parodied in an episode of Saturday Night Live.

By the 1990s, Wall Street Week faced increasing competition from rivals like CNBC. In 2002, network executives wanted to replace him with a younger host to help boost ratings. MPT executives offered him a five-minute segment on a newly retooled version of the show; Rukeyser declined. In his final episode, which was broadcast live, he deplored the decision of Maryland Public Television’s management and urged viewers to write their PBS stations and clamor for the new financial program he would soon create. Maryland Public Television fired him immediately after the broadcast. After Rukeyser’s departure, the series was renamed Wall Street Week with Fortune and co-hosted by the editorial director of Fortune magazine, Geoffrey Colvin, along with Karen Gibbs, a former senior business correspondent on the Fox News Channel. But without Rukeyser, the show’s ratings fell and Maryland Public Television cancelled the show in June 2005.

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