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Enter The 'Financial Expert'
As already stated, the financial news tends to report rumours, speculations and projections as facts. How does the media do this? Typically by quoting a guest "financial expert”. The media can always find some 'expert' who will say something hopelessly hopeless about anything. A recent occurrence of a self-styled “financial expert” appearing in the news is the case of Mr Alessio Rastani who appeared on the UK state-owned British Broadcasting Corporation (BBC) Business News on 26th September, 2011. In what now purports to have been an overwhelmingly successful PR stunt in which Mr Rastani made a number of contentious, albeit true, headline grabbing statements live on the programme with the aghast BBC Presenter, Martine Croxall, turning in astonishment to her co-host, fostering further hype to the controversial interview.
Mr Rastani supposedly skilfully orchestrated an appearance on BBC news on a day of “turmoil in the stockmarket”, with major indices violently ricocheting throughout the day. His statements included:
- “The governments don’t rule the world – Goldman Sachs rules the world.”
- "I go to bed every night and I dream of another recession..."
Additionally, in terms of market direction he added:
- “The market is toast...the stock market is finished...”
- “..in less than 12 months my prediction is that savings of millions is going to vanish and this is just the beginning”
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