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

FASB: Mark all financial assets at fair value

Edward Harrison Jul 23, 2009

This is a huge deal. FASB is considering requiring all financial assets be valued at fair values on balance sheets. Hat tip Andrew. Bloomberg reports (notice my highlighting in bold): The scope of the FASB’s initiative,…

Economy

Jobless claims rise 30,000 from artificially low number

Edward Harrison Jul 23, 2009

When last week’s US jobless claims number was released, I indicated it was artificially low because of changes in the summer auto production schedules. Rather than look at the numbers as they are released from week to week, we should look…

News

News from around the web: 2009-07-23

Edward Harrison Jul 23, 2009

Bernanke Says Add Consumer Protection to Fed Mandate - Bloomberg.com You have to respect the chutzpah behind this. Audacious NAB raises $2b in oversubscribed placement Banks are getting capital everywhere. Buffett's $91,000 shares…

Economy

WSJ Video: The End of Wall Street – Part One

Edward Harrison Jul 22, 2009

Here’s a credit-crisis video retrospective from the Wall Street Journal. It is chapter one of a three part series. Notice the Wall Street meme that subprime borrowers caused the crisis which is patently false. It’s all about…

Economy

Germans must get their head out of sand on banks

Edward Harrison Jul 22, 2009

Germany never participated in the upswing of the housing bubble. This fact has led German politicians of all stripes to mistakenly believe their banking system was somehow immune to the problems infecting bubble markets like the US or…

Economy

Roach: “Liquidity is seeking return”

Edward Harrison Jul 22, 2009

Here’s a nice clip from Stephen Roach from last week asking “where’s the demand?” His thesis is pretty simple: we have an inventory-induced upturn that might actually show positive GDP growth in the U.S. for Q3, what I…

Political Economy

Obama and health care: Wasting political capital

Edward Harrison Jul 22, 2009

President Barack Obama was elected last year in a sizable victory over his Republican competitor. Bolstering his position was the huge Democratic majority in both houses of Congress. Given these advantages, combined with intelligence and…

News

Links from around the web: 2009-07-22

Edward Harrison Jul 22, 2009

S&P upgrades CMBS to AAA week after downgrading to BBB- - Rolfe Winkler Inexplicable. Digg Stops Hijacking Your Twitter Links, Not Sorry About It Agree 100% with this post. Very untrustworthy. Department store sales slip 11%…

Economy

How Iceland collapsed

Edward Harrison Jul 21, 2009

13-minute video from the Wall Street Journal. Related stories: Iceland warms to Europe Iceland to hand bank stakes to creditors Iceland’s rehabilitation

Markets

Cruising foreclosures, REO and short sales with Jim the Realtor

Edward Harrison Jul 21, 2009

If you haven’t seen any of Jim the Realtor’s videos over at Calculated Risk, you are not getting a feel for what’s happening in residential real estate in America. The guy really gives the whole housing problem in California a look…

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