Trader on BBC Sounds Alarm About Market Crash

Statement on BBC News channel interview with trader Alessio Rastani

The BBC have today issued the following statement regarding an interview with trader Alessio Rastani on the BBC News channel yesterday (Monday 26 September):

“We’ve carried out detailed investigations and can’t find any evidence to suggest that the interview with Alessio Rastani was a hoax. He is an independent market trader and one of a range of voices we’ve had on air to talk about the recession.”

BBC Press Office

While this has the appearances of one of the Yes Men Stunts they deny involvement.

Rastani is not in Liberty Plaza (#occupywallstreet)

By Andy Bichlbaum on Sep 27 2011

The Yes Men wish to commend Mr. “Alessio Rastani” for his masterful performance as “trader” on BBC World yesterday. Mr. Rastani’s real name is Granwyth Hulatberi; he once appeared on CNBC MarketWrap as a “representative” of the WTO. Well done, Granwyth! You’re getting better and better.

Just kidding. We’ve never heard of Rastani. Despite widespread speculation, he isn’t a Yes Man. He’s a real trader who is, for one reason or another, being more honest than usual. Who in big banking doesn’t bet against the interests of the poor and find themselves massively recompensed—if not by the market, then by humongous taxpayer bailouts? Rastani’s approach has been completely mainstream for several years now; we must thank him for putting a human face on it yesterday.

If you’d like to see the human face of the human perspective—the perspective of the 99% victimized by our demented and out-of-control financial system—come join the occupation of Wall Street. Michael Moore did so  last night, and pointed out that in America, it’s just 400 people who own as much as most of the rest of us put together—and that when we decide we really want to change the rules of the game, those 400 people won’t be able to do squat about it.

No Fossil Fuel Unburnt

From Common Dreams: http://www.commondreams.org/view/2011/09/27-4

by Tom Engelhardt
Published on Tuesday, September 27, 2011 by TomDispatch.com

Pepe Escobar, that ever-energetic, globetrotting correspondent for Asia Times, has long been on the Pipelinestan beat, covering the skeletal geography of energy that girds the planet.  Today, however, he leaves pipelines behind to consider the planet they service — or is it we who service them?  In his newest piece, “The West and the Rest in a One-Model-Fits-All World,” he focuses on this question: if the West is going down, and Atlantic bust is giving way to Pacific boom, what’s to be made of the fate of a planet in the embrace of a single grim model of economic “development”?

Last Tuesday, my hometown paper had, I thought, a relevant article, a seemingly triumphalist reportorial shout of joy that the Americas, from Patagonia to the Arctic seas, might be the next Saudi Arabia.  “New Fields May Propel Americas to Top of Oil Companies’ Lists,” the headline went.  (“For the first time in decades, the emerging prize of global energy may be the Americas, where Western oil companies are refocusing their gaze in a rush to explore clusters of coveted oil fields.”)

Huzzah!  We should all feel great, it turns out, because that tilting imperial slope on which the U.S. seems to be sliding downhill has long been linked to Middle Eastern oil dependency.  Now, so says the New York Times, that might be reversed.

Only one minor problem: just about every bit of that energy — tar sands in Canada, oil shale in the American West, pre-salt oil deposits in the Atlantic Ocean (way) off Brazil’s coast, oil in the Arctic seas (where Shell has just gotten its latest permit from the Obama administration), and oil fields in Colombia in a region embroiled in an ongoing civil war — involves what Michael Klare has long called “tough oil” or “extreme energy.”  Those fossil fuels — dirtier, harder to extract, or existing under the worst possible political, environmental, or weather conditions — guarantee nightmares to come.

Read complete article at:  http://www.commondreams.org/view/2011/09/27-4

Posted in Uncategorized. Comments Off on No Fossil Fuel Unburnt

With No Future Visible, Young Activists Have Few Options but to “Occupy Wall Street”

From Alternet: http://www.alternet.org/story/152526/with_no_future_visible%2C_young_activists_have_few_options_but_to_%22occupy_wall_street%22/

Is it really surprising that young protesters on Wall Street and around the world would like to have a word with the financial magnates who stole their future?

By David Graeber
September 26, 2011

Why are people occupying Wall Street? Why has the occupation – despite the latest police crackdown– sent out sparks across America, within days, inspiring hundreds of people to send pizzas, money, equipment and, now, to start their own movements called OccupyChicago, OccupyFlorida, in OccupyDenver or OccupyLA?

There are obvious reasons. We are watching the beginnings of the defiant self-assertion of a new generation of Americans, a generation who are looking forward to finishing their education with no jobs, no future, but still saddled with enormous and unforgivable debt. Most, I found, were of working-class or otherwise modest backgrounds, kids who did exactly what they were told they should: studied, got into college, and are now not just being punished for it, but humiliated – faced with a life of being treated as deadbeats, moral reprobates.

Is it really surprising they would like to have a word with the financial magnates who stole their future?

Just as in Europe, we are seeing the results of colossal social failure. The occupiers are the very sort of people, brimming with ideas, whose energies a healthy society would be marshaling to improve life for everyone. Instead, they are using it to envision ways to bring the whole system down.

Continue reading at:  http://www.alternet.org/story/152526/with_no_future_visible%2C_young_activists_have_few_options_but_to_%22occupy_wall_street%22/

Posted in Uncategorized. Comments Off on With No Future Visible, Young Activists Have Few Options but to “Occupy Wall Street”