An independent trader, appearing on BBC News, reveal[ed] that he thinks banks and hedge funds believe the stock market 'is toast'. Alessio Rastani said that Goldman Sachs rules the world, not governments, and that Goldman Sachs don't care about this rescue package" because they know "the stock market is finished" and they "don't really care" about the Euro. US Treasury Secretary Tim Geithner said over the weekend: "Sovereign and banking stresses in Europe are the most serious risk now confronting the world economy. Decisions cannot wait until the crisis gets more severe." He has proposed the so-called Geithner plan which will leverage the EU's 440bn bail-out fund (EFSF) from 440bn to 2 trillion to cope with Italy and Spain. But according to Mr Rastani it may already be too late as: "In less than twelve months, my prediction is, the savings of millions of people are going to vanish."
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