BBC City 'expert' is attention seeker

The so-called City trader who appeared as a panel expert for the BBC has admitted that he is an "attention seeker" who sees trading as a "hobby".

Alessio Rastani appeared on the BBC News Channel on Monday as a self-styled City hot-shot who claimed that the financial crisis was just another opportunity to make money. He shocked viewers when he claimed: "I go to bed every night and I dream of another recession."

However, it has been revealed that Mr Rastani is not accredited by the Financial Services Authority and lives in his girlfriend's modest £200,000 home in Bexleyheath. It is not clear whether the 34-year-old has ever worked in a senior post at a bank or stockbroking firm.

He told the Daily Telegraph: "They (the BBC) approached me. I'm an attention seeker. That is the main reason I speak. Trading is like a hobby. It is not a business. I am a talker." A BBC spokesman said: "We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax."