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

The RBS and HBOS sinkholes

Edward Harrison Jul 13, 2009

This comes via the Telegraph: UK Financial Investments (UKFI) said in its annual report that its loss on the two stakes - 70pc of RBS and 43pc of Lloyds Banking Group - had reached £10.9bn at the end of June. The losses, which are not…

Monetary System

How globalisation led to universal banking in America

Edward Harrison Jul 13, 2009

Last week, I followed up Yves Smith’s excellent post on “Why Big Capital Markets Players Are Unmanageable” with “More on why big capital markets players are unmanageable.” I would like to extend the discussion beyond the U.S. border into a…

News

Links: 2009-07-13

Edward Harrison Jul 13, 2009

History suggests it could be decades before the dollar is dislodged - Roger Bootle "China's central bank governor has gone so far as to suggest that the dollar's role as a reserve currency helped to bring about the current financial…

News

Links: 2009-07-11

Edward Harrison Jul 11, 2009

Banks buying back TARP warrants at discount: panel - MarketWatch "bought-out the stakes at 66% of their face value" Great Moments in Ogling: Obama Checking Out Girl - The Hollywood Gossip The G8 isn't just about economics…

Political Economy

How the U.S. beat a suspected tax cheat into submission

Edward Harrison Jul 10, 2009

It is refreshing to read the foreign press because they have decidedly different takes on issues.Whether you agree or not, it is important to hear those views. The Swiss are very negative on the U.S. and their tax fight against UBS. This…

Economy

Bloomberg is coming down hard on Goldman

Edward Harrison Jul 10, 2009

The video linked below is a must-see piece of journalistic skepticism. The duo at Bloomberg News are discussing the recent alleged theft of trading code by a former Goldman employee Sergey Aleynikov who moved to a hedge fund called Citadel…

Political Economy

Mea culpa on the need for a new currency

Edward Harrison Jul 10, 2009

A few days ago I wrote a post “Japanese defend dollar’s status while China tears it down” in which I defended the Japanese support of the dollar, saying it was in no one’s interest to see a change in the currency markets right now. I have…

Political Economy

Germans reject Chinese offer for Opel

Edward Harrison Jul 10, 2009

Roland Koch, the leader of the German state of Hesse, has dismissed the possibility of Chinese auto manufacturer BAIC acquiring German carmaker Opel. Below is my translation of today’s Spiegel article explaining this. Clear rejection of…

News

Links: 2009-07-10

Edward Harrison Jul 10, 2009

Unemployment in Spain: Two-tier flexibility - The Economist "How the burden of adjustment in Spain falls on the underprivileged" A special report on Texas: : The red and the blue - The Economist "Whisper it softly,…

Economy

Ten eastern European countries now looking to IMF for bailouts

Edward Harrison Jul 9, 2009

This comes via der Standard, an Austrian daily. My translation below: The international financial crisis has hit eastern Europe harder than previously expected, according to a press report. At least ten states are negotiating with…

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