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

Cities on the brink

Edward Harrison Jun 19, 2009

Here’s a good segment from CNBC with an interview from two city mayors, the mayor of El Centro, CA that has 26.9% unemployment, the highest in the nation, and the mayor of Flint, MI, which is imploding due to the decline in the U.S. car…

Political Economy

Should we expect a protectionist China?

Edward Harrison Jun 19, 2009

During the Great Depression, it was the Smoot-Hawley Tariff Act, which in hindsight is blamed for triggering a wave of protectionist actions globally. Protectionism was a major contributor to the downward spiral that created depression. …

Economy

Asymmetric information and corporate governance in bank bailouts

Edward Harrison Jun 19, 2009

Note from 15 Sep 2010: On the second anniversary of the Lehman bankruptcy, it bears noting that the sway government has over the banking sector has diminished. The Big Bank CEO Phil has done the prudent thing regarding lending standards.…

News

Links: 2009-06-19

Edward Harrison Jun 19, 2009

After Pilot Dies, Jet Lands Safely in Newark - NY Times EU sets basis for finance reform - BBC News "EU ministers have agreed in principle on a framework for enhanced oversight of the financial sector, with the UK winning…

Economy

Readers of this blog expect the recession to last

Edward Harrison Jun 18, 2009

A recent poll which ended on Wednesday as to when the economy will recover yielded the results below: Clearly, you think this downturn has legs! Please feel free to ping us with other important questions we should be asking…

News

Bedtime Reading: 2009-06-18

Edward Harrison Jun 18, 2009

A lot of links coming. So I will some now and others tomorrow. Retail sales plunged in April, led by motors - Irish Independent This is a depression-style fall: 17%. Outsider in the world of economics takes a dim view of…

Economy

Philly Fed: Business outlook shows ‘notable improvement’

Edward Harrison Jun 18, 2009

The Federal Reserve Bank of Philadelphia is out with a widely followed Business Outlook Survey for June. The numbers are very good. Declines in the region's manufacturing sector were much less in evidence in June, according to…

Economy

US Bancorp CEO makes his case on TARP repayment

Edward Harrison Jun 18, 2009

This video of US Bancorp CEO Richard Davis on CNBC is good in getting to the motivations and thinking of bank CEOs now repaying TARP monies. Davis sounds articulate, well-prepped and diplomatic and makes a lot of sense. You couldn’t ask…

Economy

Jobless claims in second week just over 600K

Edward Harrison Jun 18, 2009

The unemployment insurance weekly claims report revealed that the number of persons filing an initial claim rose 3,000 this past week to 608,000. While these are still very high numbers, they are the lowest since January, suggesting…

Economy

If FedEx is losing money, you know the economy is in bad shape

Edward Harrison Jun 18, 2009

Last month I said that June was significant for two reasons. First, we are going to get our first test of data that could disappoint, which would spell trouble for an overbought market. But, just as important, we need to watch the…

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