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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

Initial claims hit lowest in 5 months, continuing claims hit record

Edward Harrison Jun 11, 2009

The U.S. Labor Department came out with its latest weekly report. The data were mixed because initial claims are pointing to recovery, but continuing claims continue to hit new records. The long and short: the U.S. Labor market remains…

News

Links: 2009-06-11

Edward Harrison Jun 11, 2009

California nears financial ''meltdown'' as revs tumble Can you say "Bankruptcy or Obama?" Countrywide Exec Warned The Fed On Toxic Mortgages - Tom Lindmark Apparently, the head of risk at CFC was ignored not only by senior…

Economy

When will the U.S. recover?

Edward Harrison Jun 10, 2009

Since so many economists are signing up to the second-half recovery meme (Berner, Gordon, Krugman, Bernanke), I am going to ask you whether you believe them or not. What say ye? (If you can't read the above it is a poll asking you…

Economy

Roubini’s RGE Monitor: Threat of ‘Asia-Style Crisis’ in Eastern Europe

Edward Harrison Jun 10, 2009

I am not the only one who sees events in Latvia as a potential catalyst for further downside risk to the reflation trade. Mary Stokes over at Nouriel Roubini’s site has a very readable post out on why we should be watching events in that…

Economy

Morgan Stanley: Recession will ‘end by mid-to-late summer’

Edward Harrison Jun 10, 2009

It seems a Q3 recovery is the new consensus of professional economists. First, we hear Paul Krugman saying this, now Richard Berner and David Greenlaw are singing the same tune. The deepest post-war recession likely will end by…

Business

Is the GM section 363 bankruptcy plan really a stealth re-organization plan?

Edward Harrison Jun 10, 2009

We have just learned that Fiat has successfully completed its deal with Chrysler. This means that the bankrupt ‘Old Chrysler’ will now have far fewer cash and assets available for creditors and that it will be liquidated with large or…

Economy

Repayments will make banks weaker and could lead to more failures

Edward Harrison Jun 10, 2009

Yesterday, I argued that allowing banks to repay TARP funds meant a continuation of overcapacity in financial services, which was a direct contributor to the credit crisis through its dampening impact on unlevered returns. Some of the…

News

Links: 2009-06-10

Edward Harrison Jun 10, 2009

Oil rises near $71 after large fall in U.S. crude stocks "Oil raced toward $71 a barrel on Wednesday, after settling above $70 for the first time in seven months on a larger-than-expected fall in crude oil stocks and a forecast that…

Economy

Ten big banks receive approval to repay TARP funds

Edward Harrison Jun 9, 2009

If you thought the bailout of too big to fail institutions was a massive gift from taxpayers to captains of Wall Street, the news that TARP funds are being repaid should confirm your beliefs. Just today the U.S. Treasury has agreed to…

Economy

Krugman sees recovery by end of Summer

Edward Harrison Jun 9, 2009

As I have been indicating, even the most bearish of professional economists are now seeing a probable end to the recession later this year. Paul Krugman goes as far as to say he wouldn’t be surprised to see the official end dated…

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