The video: Jaws "collectively dropped" in the BBC newsroom, and then in front of TV sets and computer screens around the world, after London-based "independent trader" Alessio Rastani offered his stark economic views in a clip that quickly went viral (watch it below). Among Rastani's declarations: The financial markets are "toast," the "savings of millions of people are going to vanish" within 12 months, the government can't do anything about it because "governments don't rule the world, Goldman Sachs rules the world" — and he can't wait for the big crash. "I go to bed every night and I dream of another recession," he says. Rastani later told Forbes that he only trades his own money, then admitted to The Telegraph that he's actually more of an "investment speaker" and "attention seeker" than full-time trader. Still, says The Telegraph's Jonathan Russell, Rastani sure "can sum up the financial crisis in just three minutes."
The reaction: Rastani predicts some "scary things," says Mark Gongloff in The Wall Street Journal. But he's "not exactly saying anything all that radical." His view of the markets is completely reasonable, and he's right: People should be informed, and prepared. That's really only helpful "if you're a highly trained professional trader in the global financial markets," says Jim Newell in Gawker. To those of us who aren't, Rastani just comes across as a "sociopath." The clip is so "terrifying" because it's clear Rastani honestly believes folks will lose their savings, says Jon Bershad in Mediaite. Watch for yourself:
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