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

Eisenhower on the Military Industrial Complex

Edward Harrison Sep 1, 2009

Here, Eisenhower was talking about the military industrial complex in 1961. Today, one could make similar statements about other powerful lobby groups like the finance industry (or the healthcare and oil industries).

Economy

ISM: U.S. Manufacturing sector growing again

Edward Harrison Sep 1, 2009

The August 2009 Manufacturing ISM Report On Business was released and the widely followed PMI Index came in ahead of expectations at 52.9. Expectations were for 50.5. As 50 marks the divide between contraction and expansion, this survey…

Economy

Stephen Roach is talking double dip again

Edward Harrison Sep 1, 2009

Nouriel Roubini is the most prominent economist to warn that a double-dip recession would be a distinct possibility if economic policy-makers return to policy normalization too quickly. Now, Stephen Roach, head of Morgan Stanley Asia,…

News

News from around the web: 2009-09-01

Edward Harrison Sep 1, 2009

Beijing's derivative default stance rattles banks | Reuters Hat tip aitrader. A report that Chinese state-owned companies will be allowed to walk away from loss-making commodity derivative trades provoked anger and dismay among…

Political Economy

China “serious about the plan to internationalise” Yuan

Edward Harrison Aug 31, 2009

Chinese vice-premier Wang Qishan has been appointed to lead a taskforce to make the renminbi the currency of choice for trade settlements, especially with regional trading partners. HSBC economist Qu Hongbin believes this latest salvo in…

Political Economy

Government banking Irish edition

Edward Harrison Aug 31, 2009

The Irish government today announced that, if necessary, it is prepared to take majority shareholding in ailing Irish banks. However, it has ruled out full-scale nationalisation. But, what is a majority share by government except…

Economy

Zombie banks Scandinavian edition and the threat of too big to fail

Edward Harrison Aug 31, 2009

Across the world, governments are doing their level best to shore up weak banking systems in the wake of the most significant final crisis in decades. Most market players appear to believe these efforts successful; why else have…

News

News from around the web: 2009-08-31

Edward Harrison Aug 31, 2009

On this last day of August, I haven’t had any time to post as yet. However, I do expect to post later in the day. In the meantime, here are a number of stories making the rounds on the web. Enjoy. Edward Baker Hughes to Buy…

News

Weekend Links: 2009-08-30

Edward Harrison Aug 30, 2009

Our quarter-century penance is just starting - Ambrose Evans-Pritchard, Telegraph All that has happened over this crisis is that huge private losses have been dumped on society: but the losses are still there, smothering the economy.…

News

Night time Links: 2009-08-28

Edward Harrison Aug 28, 2009

FDIC: Failed Bank Information - Bank Closing Information for Affinity Bank, Ventura, CA As of July 10, 2009, Affinity Bank had total assets of $1 billion and total deposits of approximately $922 million. In addition to assuming all of…

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