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.

Economy

Lloyds to raise 21 billion pounds in biggest rights issue ever

Edward Harrison Nov 3, 2009

Lloyds are looking to avoid the embrace of government by going to existing shareholders to raise capital and sidestep the draconian break-up solution foisted upon RBS by Neelie Kroes. According to Bloomberg, this is the largest rights issue…

Markets

Reserve Bank of Australia lifts rates again

Edward Harrison Nov 2, 2009

This is the second straight month that the RBA has raised interest rates. From the Sydney Morning Herald: The Reserve Bank has lifted its key interest rate for a second month in a row as it attempts to keep Australia's economy on track…

Markets

Reflation watch hedge fund edition

Edward Harrison Nov 2, 2009

Here’s another bullet point in our ongoing tally of reflation indicators. It’s the return of risk in the form of start-up hedge funds (John Meriwether included). From the FT: Hedge fund launches are growing in size and number after…

Economy

Japan: stimulus without reform leads to a policy cul de sac

Edward Harrison Nov 2, 2009

If one wants to see what happens when you use stimulus to help keep zombie companies alive and to resist reform efforts, look no further than Japan. For twenty years now, Japan has been dealing with the consequences of a burst asset…

Economy

The EU driving changes in European banking

Edward Harrison Nov 2, 2009

At the weekend I wrote about Alistair Darling’s about-face on breaking up to big to fail financial institutions. Apparently, this was not a case of labour changing tack and finding regulatory religion, but rather of the European Union…

Economy

Bullish data, recoveries, crashes and the psychology of forecasting redux

Edward Harrison Nov 2, 2009

If you have been wondering whether a statistical recovery is at hand, today’s ISM manufacturing report should be the clincher. The report was definitely bullish with the ISM index rising to 55.7 and sub-components supporting the…

News

Links: 2009-11-02

Edward Harrison Nov 2, 2009

I will be out of pocket in the early morning. Back late morning for more news. I expect to update my thoughts on the UK TBTF situation. Junk bond revival stokes credit bubble fears - Telegraph I share these fears. (My post:…

Economy

UK: Darling confirms government to break up too big to fail banks

Edward Harrison Nov 1, 2009

In a clear break with US economic policy, the UK government have decided that too big to fail is too big to exist. As a result, three large financial institutions now owned at least in part by government are to be dismantled. Moreover, talk…

Economy

CIT will now file for bankruptcy

Edward Harrison Nov 1, 2009

CIT has the approval of debtholders to file a prepackaged bankruptcy. This comes via Business Wire: CIT Group Inc. (NYSE: CIT), a leading provider of financing to small businesses and middle market companies, today announced that, with…

Jon Stewart takes on Fox News

Edward Harrison Oct 30, 2009

You judge for yourself: is Jon Stewart right to skewer Fox? Before you decide, listen to the last minute of the segment.

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