I don't believe there is anything like that at the moment.
It's been discussed, but all the editors either grab images via urls or upload them to files.
There are pluggins availble here like the yafftinmce, which allow you to upload images, audios and videos. just search in the community. you wil get it
CK Editor looks as a good choice.
Try out this, http://community.elgg.org/pg/plugins/springs/read/359315/ckeditor-replaces-tinymce
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