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

Large bank loses $7.9 billion: CDS involved

Edward Harrison Jul 20, 2009

Back in April, I mentioned a story about BTA, a bank in Kazakhstan that had been nationalized by the state in February. The interesting bit about the story was that interested parties from abroad (including Morgan Stanley) had…

Jon Stewart: French Finance Minister Lagarde interview

Edward Harrison Jul 20, 2009

Why is it that Jon Stewart, a comedian, has become the most able and trusted voice of investigative journalism into finance on television? He spoke with the French Finance Minister Christine Lagarde, something I find remarkable given…

News

News from around the web: 2009-07-20

Edward Harrison Jul 20, 2009

The Best Bank You've Never Heard Of - Barrons.com "If you aren't familiar with Banco Santander yet, you soon will be. The Spanish giant is becoming one of the most profitable banks in the world." CIT near to sealing rescue…

Economy

Hypo Real Estate need for 10 billion also reveals huge problems in Spain

Edward Harrison Jul 19, 2009

Every country has a problem child or two in the financial services sector. America has Citigroup and Bank of America. Britain has RBS and HBOS/Lloyds. And Germany has Hypo Real Estate. I have been chronicling problems at the…

Markets

Big Mac Index: Europe overvalued, Asia undervalued

Edward Harrison Jul 19, 2009

The Economist released its remarkably telling Big Mac Index this past weekend. The index looks at the relative cost of Big Mac in various countries to gauge how over- or undervalued the currencies in those locales are. Judging…

News

Links: 2009-07-19

Edward Harrison Jul 19, 2009

Ex-Lehman traders to get huge bonuses - Observer Barclays is paying a lot for ex-Lehman staff bonuses Swiss call for tax watchdog - Observer Sink or swim in modern China - BBC News "China's economic roller-coaster divides a…

Economy

Depressionary bust in Ireland is echoed in California

Edward Harrison Jul 18, 2009

For quite some time now I have been of the view that there are a number of striking similarities between the goings on in Ireland and those in California, none of them good. Both locations have seen extraordinary rises in home prices turn…

News

Links: 2009-07-18

Edward Harrison Jul 18, 2009

Peter Brimelow: Wall Street-Washington collusion? - MarketWatch Just my kind of article. Hat tip Marshall Auerback. Yao Ming likely out next season - NBA - Yahoo! Sports No Tracy McGrady or Ron Artest either Dismantling the…

Economy

FDIC Bank seizures 56 and 57

Edward Harrison Jul 17, 2009

These two seizures are going to be costly. The first one here, Vineyard Bank in California is going to cost the taxpayer an estimated $579 million. The second, Temecula Valley Bank in North Carolina, is estimated to cost $391…

Economy

Two more FDIC Friday Night Specials brings total to 55 failed banks

Edward Harrison Jul 17, 2009

The first bank failure is in Georgia, a state where many FDIC seizures have taken place. On Friday, July 17, 2009, First Piedmont Bank, Winder, GA was closed by the Georgia Department of Banking and Finance, and the Federal Deposit…

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