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.

Markets

Hotel industry getting crushed along with CRE

Edward Harrison May 9, 2009

When you think about property, you should really be looking at its worth as the present value of future cash flow streams. This is true for residential, commercial, rental or travel property. One reason is that property is fungible,…

Business

A Case Of Gangster Government?

Edward Harrison May 9, 2009

This is a video “discussing whether the Obama administration has intervened too much in business affairs, with Thomas Lauria, White & Case attorney and CNBC's Michelle Caruso-Cabrera.” As GM has similar circumstances, the case is…

News

Links: 2009-05-09

Edward Harrison May 9, 2009

Schöner sterben mit dem "SZ-Magazin" " Stefan Niggemeier interessantes Gespräch über den Mangel an deutschen Bloggern, vor allem im akademischen Bereich Wells Fargo Gets $8.6 Billion in Stock Sale, More Than Planned - Bloomberg…

Economy

Westsound Bank seized by FDIC

Edward Harrison May 8, 2009

The loss rate here is about 30%, $100 million on $334 million in assets. Here is the FDIC press release: Westsound Bank, Bremerton, Washington, was closed today by the Washington Department of Financial Institutions, which appointed the…

Political Economy

Timothy Geithner on Charlie Rose

Edward Harrison May 8, 2009

In case you missed it, this is Tim Geithner talking stress tests this past Wednesday on Charlie Rose.

The new Star Trek film is here

Edward Harrison May 8, 2009

For you Star Trek fans, here is a little weekend preview of what to see. It’s Star Trek vs. Wolverine at the box office this weekend. It might be a nice break from stress tests and employment reports. Enjoy.

Business

Chrysler dissident lenders lose fight and disband

Edward Harrison May 8, 2009

Reuters is reporting that the dissident Chrysler lender group has disbanded. Apparently, the lenders have finally figured out that they have zero chance of getting what they want as I have been saying all along (see posts here and…

Economy

Fannie Mae: a bottomless pit for U.S. taxpayers

Edward Harrison May 8, 2009

Bloomberg has the goods on Fannie and they’re not good. Fannie’s regulator wants $19 billion from the U.S. government because the firm has negative capital. Fannie Mae had $23.2 billion in losses last quarter alone. And it says losses in…

Monetary System

Data point of the day: actual unemployment rates

Edward Harrison May 8, 2009

Below is a chart of the actual non-seasonally adjusted unemployment rates as calculated via the household survey. All of the unemployment rates are down from March to April. And the broad measure is down the most, from 16.2% to 15.4%.…

Economy

U.S. employment data in line with estimates

Edward Harrison May 8, 2009

The Employment Situation Summary for April was released today by the U.S. Department of Labor and the headline data was right in line with estimates. The unemployment rate came in at 8.9%, up from 8.5% in March. Job losses for April were…

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