This clip is just amazing to watch. Former CNBC anchor Ron Insana understands some of the technical stuff better than Rick Santelli (Like the difference between fiscal and monetary policy), which means he is no dummy and understands he is a total shill for the Fed and Obama Administration with his lame misleading apologist comments.
What's going on? Maybe this timeline, via Wikipedia, can explain things:
He was Managing Director of Insana Capital Partners from inception to collapse. He then joined SAC Capital Advisors in an unknown capacity. On February 27, 2009, Insana left SAC Capital.
He is now planning on returning to the media industry.
Given his sucking up to the Fed, I wouldn't be surprised to find him with a position in the Obama
Administration.
Question for Insana: why are some recessions, depressions? (in other words, why are some recessions worse than others?)
ReplyDeleteI can't watch this to the end. Its far too moronic for even your average CNBC listener. If I were Rick, I would have walked off the set when dumb a$$ Insana started explaining the difference between monetary and fiscal policy. Talk about being overly pedestrian.
ReplyDeleteInsana is a political hack. Anybody who says that it's the job of the central bank to print money has zero knowledge about the realities of actual economics.
ReplyDeleteCNBC is just a PR machine for the Financial Crime Cartel on the Wall Street.
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