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.

Political Economy

Germany gives GM a stiff arm on state aid

Edward Harrison Nov 11, 2009

You could see this one coming given the humiliating circumstances under which the German Chancellor learned that GM was pulling out of the Magna deal. The BBC is now reporting that Germany will give General Motors no aid to restructure…

Political Economy

Geithner impersonates Nicholson – America, you can’t handle the truth

Edward Harrison Nov 11, 2009

Tim Geithner has issued a Code Red on the U.S. dollar, but he doesn’t think Americans can handle it. I believe deeply that it’s very important to the United States, to the economic health of the United States, that we maintain a strong…

Economy

How is Citi going to deal with $38 billion in deferred tax assets?

Edward Harrison Nov 11, 2009

Citigroup has been losing tens of billions of dollars over the past two years as the financial crisis has unfolded. If one considers the government capital that Citi has not paid back, the bank is clearly the weakest of the four largest…

Political Economy

Unemployment rate illusion

Edward Harrison Nov 11, 2009

You have probably heard the term money illusion. I want to coin a related new term called unemployment rate illusion because I think it is significant in light of some of the things David Rosenberg said earlier today about the…

Political Economy

Rosenberg: U.S. unemployment rate headed for 12.0-13.0%

Edward Harrison Nov 11, 2009

David Rosenberg thinks the unemployment rate is headed much higher than anyone anticipates. If you recall, back in January when the stimulus package was crafted, the Obama Administration felt that passing the bill would mean an…

News

News from around the web: 2009-11-11

Edward Harrison Nov 11, 2009

Bear Juror Says U.S. Case So Weak She’d Invest With Defendants - Bloomberg.com Russia Warns of Gas Crisis as Ukraine Faces Financial Turmoil - Bloomberg.com Staatsbank HRE verliert 1,7 Milliarden Euro - Spiegel Online WNYC -…

Markets

Chanos says dump munis as distress mounts and ratings attacked

Edward Harrison Nov 10, 2009

I have really started to dislike municipal bonds as an asset class. They have seen a huge rally along with almost every other financial asset but the underlying fundamentals are weak because of financial distress at states and…

Economy

Ambac may file bankruptcy soon

Edward Harrison Nov 10, 2009

Bond insurer Ambac Financial has warned bankruptcy is a distinct possibility, sending its shares plummeting more than 30% today. What is intriguing about this pending bankruptcy is how this company escaped bankruptcy in 2008, was…

Markets

Whitney Tilson: "A pullback of some sort is likely"

Edward Harrison Nov 10, 2009

Tilson is saying what I have been saying, namely that March saw an increased number of attractive buys, but most of these are now fully priced. As a result, he is selling equities - even building up his net short positions. Unlike bear…

Political Economy

If the Fed is looking to inflate away problems, what should Asia do?

Edward Harrison Nov 10, 2009

Andy Xie thinks the Fed is on an inflationary path. Last month, he wrote an article in Caijing which says that ‘stagflation lite’ is the Federal Reserve’s preferred outcome. What’s interesting is his recent article about the need for…

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