Author

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

Business

GM’s sale of Saab collapses

Edward Harrison Nov 24, 2009

From Reuters: A deal by General Motors Co GM.UL to sell its Saab brand collapsed on Tuesday when the buyer pulled out in a move that threatens the Swedish luxury brand with closure. GM had been aiming to close a deal by the end of…

News

News from around the web: 2009-11-24

Edward Harrison Nov 24, 2009

Fed asks U.S. banks to submit TARP repayment plans | Reuters FT.com - Obama knows chest-thumping and China don’t mix BBC News - US consumer confidence edges up but remains subdued Gallup Economic Weekly: Spending Up Pre-Black…

Economy

Goldilocks is not sleeping in America anymore; she’s now in China

Edward Harrison Nov 24, 2009

Remember the fabled Goldilocks economy that we had during the Great Moderation: A Goldilocks economy is a not too hot or cold economy, sustaining moderate economic growth and a low inflation allowing for a market friendly monetary…

Political Economy

British regulators disclose terms of emergency aid during panic of 2008

Edward Harrison Nov 24, 2009

The Financial Times reports that British regulators have now opened up to reveal more of the details surrounding the emergency aid banks received during the most acute periods of stress to date in the financial crisis. Meanwhile, in…

Economy

Third quarter growth now 2.8%, much lower than original estimate

Edward Harrison Nov 24, 2009

Bonds like this. Let’s see how the stock market reacts to this. Pre-market data show no big moves. From the BEA: Real gross domestic product -- the output of goods and services produced by labor and property located in the United…

Political Economy

The Kanjorski Amendment Trojan Horse and Prompt Corrective Action

Edward Harrison Nov 23, 2009

Two weeks ago as the Financial Reform Bill was wending its way through Congress, Paul Kanjorski emerged as the champion of breaking up too-big-to-fail financial institutions. After seeing trillions of dollars in taxpayer money go to…

Economy

Quelle Surprise! Most Big Banks Lack Capital

Edward Harrison Nov 23, 2009

My post title is an ode to Yves Smith, who likes to feign surprise when the blindingly obvious finally comes into plain view for all to see. The latest sign that underneath the surface weakness remains at large financial institutions comes…

Economy

Predatory lending local government version

Edward Harrison Nov 23, 2009

This story is on the front page of Business Week: Detroit Mayor Dave Bing is struggling to save his city from fiscal calamity. Unemployment is at a record 28% and rising, while home prices have plunged 39% since 2007. The 66-year-old…

Economy

Waiting in the unemployment line

Edward Harrison Nov 23, 2009

Hat tip Prieur du Plessis.

News

News from around the web: 2009-11-23

Edward Harrison Nov 23, 2009

Bruce Krasting: FDIC on REO Sales: Keep'em in the Dark! Greece tests the limit of sovereign debt as it grinds towards slump - Telegraph Economist's View: "What if a Recovery Is All in Your Head?" Rhodes pushback -…

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