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

Highlights from report with Q1 U.S. GDP down 6.1%

Edward Harrison Apr 29, 2009

Real U.S. GDP declined at an annualized 6.1% in the first quarter (Jan-Mar) of 2009. This almost exactly matches the 6.3% decline in Q4 and is a MUCH larger decline than expected. While I have not crunched all the numbers yet, I am…

News

Links: 2009-04-29

Edward Harrison Apr 29, 2009

Holdouts Jeopardize Debt Plan for Chrysler - DealBook Blog - NYTimes.com You sorta knew this was coming: "some smaller banks and hedge funds are still balking at the terms, setting the stage for a tense final two days in which the fate…

Business

First Swine Flu death in Texas (video)

Edward Harrison Apr 29, 2009

From the FT: The US reported the first death outside Mexico from the swine flu virus on Wednesday as governments around the world stepped up preparations for a possible pandemic. As Germany became the eighth country to report cases of…

Economy

At least six banks need more capital under stress tests

Edward Harrison Apr 29, 2009

This comes via Bloomberg: At least six of the 19 largest U.S. banks require additional capital, according to preliminary results of government stress tests, people briefed on the matter said. While some of the lenders may need extra…

Business

John Bogle decries ‘failure to observe the fiduciary principle’

Edward Harrison Apr 29, 2009

Below is a very good video of John Bogle, the legendary investor, at Columbia Business School, hosted by CBS Professor David Beim. In his speech, Bogle places much of the blame for the present crisis with the increasingly hostile corporate…

News

Bedtime Reading: 2009-04-28

Edward Harrison Apr 28, 2009

Now on YouTube, an Outcry Against BofA’s Lewis - DealBook Blog - NYTimes.com "Ahead of Bank of America’s annual meeting on Wednesday, the activist filmmaker Robert Greenwald is helping lead the charge to fire Kenneth D. Lewis, the…

Economy

Sheila Bair speaks out to CNBC

Edward Harrison Apr 28, 2009

CNBC's Trish Regan talks about banks and the economy with FDIC Chair Sheila Bair.

Economy

What is going on with Ponta Negra?

Edward Harrison Apr 28, 2009

A friend passed me a URL now which led me to a few posts over at Bronte Capital and at Felix Salmon's blog at Reuters about a firm connected to the Biden family called Ponta Negra. T here may be a connection here to the alleged Stanford…

Economy

Bof A’s MAC clause was as porous as swiss cheese

Edward Harrison Apr 28, 2009

Over the past few days, I have written two posts regarding the increasingly acrimonious sparring surrounding Bank of America's acquisition of Merrill Lynch. The horrible self-dealing of Ken Lewis and the principal-agent problem BofA…

Economy

Arlen Specter to switch parties

Edward Harrison Apr 28, 2009

This is a bombshell from the political world. I believe that means Al Franken will make Obama filibuster-proof. Obviously, this is very bad news for Republicans. I suspect that the deal is that Rendell and Casey will pull out ALL the…

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