Is ‘Black Monday’ Based on a True Story?

Black Monday, a Showtime comedy series that premiered on January 20, 2019, begins at the end. The series set in the late ’80s follows a group of employees working at a trading firm around the time of the biggest stock market crash in the history of Wall Street. But is the show a true story?

The show was exaggerated, over the top and thus not entirely a true story. Although, it is essential to note that the backdrop of the stock market crash the series is set against is authentic.

In reality, Black Monday took place on October 19, 1987, and to date, remains one of the biggest global stock market crashes.  At least 23 significant markets in the world experienced a sharp decline and suffered massive losses estimated to be around US$1.71 trillion.

It was the biggest single-day stock market collapse in the history of Wall Street and still holds that title more than 35 years later. But as far as the show goes, that’s about as much historical accuracy as you can expect.

The Gordon Gecko “greed is good” mentality—a reflection of the excess that has in many ways come to define the 1980s—was indeed a very present part of Wall Street at the time. 

Creator Cahan told The Hollywood Reporter, in an interview on January 18, 2019, that all characters are fictional.

“The show is, I would say, at least a foot off the ground, and very much a satire. None of the characters are based on anyone real, in terms of specific traders, but we had heard a lot of stories about Wall Street at the time and read a lot, and mixed it all into our characters and voices.”

Jordan Cahan

It is clear from the creator’s words that though the idea originated from real-life events, the series itself is not based on a true story. Black Monday is a fictional story of greed, disloyalty, opportunism, and volatility set against the backdrop of an actual event that shook the entire world.

About Black Monday

‘Black Monday’ is a dark comedy series set in the late 80s, premiered on January 20, 2019, on Showtime, following a group of employees working at a trading firm around the time of the biggest stock market crash in the history of Wall Street.

It is created by Jordan Cahan and David Caspe. It boasts a stellar star cast that includes Don Cheadle, Andrew Rannells, Regina Hall, Casey Wilson, and Paul Scheer.

In April 2019, the series was renewed for a second season that premiered on March 15, 2020. In October 2020, the series was renewed for a third season which premiered on May 23, 2021.

Source: The Hollywood Reporter