Three years ago, when money flowed easily, Ronald G. Insana left CNBC to hang his own shingle as a hedge fund manager. Now, as he returns to television, he has but one misgiving about his foray into moneymaking.You really have to admire the sick cyclical nature of this process. Just as the network, much to the amusement of practically everyone, is having its lunch eaten by John Stewart on a daily basis, it goes out and re-hires someone who moonlights as the drunken captain of a hedge fund. To recap Mr. Insana's brave journey through the financial netherworld:
“The one regret I have is we ended up losing money,” Mr. Insana said in a recent interview.
Step 1: Leave post as Financial Analyst at CNBC to make a pile of money.
Step 2: Instead, lose a pile of other people's money.
Step 3: Return to post as Financial Analyst at CNBC.
Step 4: Find new and exciting ways to lose other people's money.
[Ed Note: All steps involve profit for Mr. Insana.]
Didn't we pass a law requiring that these people, as well as those responsible for hiring them (twice) be flayed in public? No? Anyone care to explain why?
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