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

McCulley: We need the political will to socialize the losses

Edward Harrison Apr 22, 2009

Paul McCulley of PIMCO made a few comments back in March which caught my attention. Given how well banks are doing this earnings season, I thought it relevant to quote him here. The essence of his remarks was this: Deleveraging is a…

Political Economy

The German econblogger space is just fine

Edward Harrison Apr 22, 2009

This past Sunday Felix Salmon wrote a post called "10 reasons for the lack of German econobloggers." I found it inaccurate and offensive. Let me tell you why. I was in Germany at the time I read the post and had been there for the…

Economy

How big banks earned so much money this quarter

Edward Harrison Apr 22, 2009

We are a few weeks into earnings season and it should be abundantly clear that financial institutions are firing on all cylinders. In fact, financials are leading the broader market for the first time since 1993. Yet, loan losses have…

Blogs

The New Credit Writedowns

Edward Harrison Apr 22, 2009

I am just back from the Easter Holidays and have had a good two weeks for self-reflection. In truth, I am feeling a bit exhausted despite the fact that I was supposed to have just had a two weeks' holiday. So, I have decided to make a few…

News

Links: 2009-04-22

Edward Harrison Apr 22, 2009

FT Alphaville - The world’s 50 ’safest’ banks UBS as one of the safest? rubbish. Japan suffers first trade deficit since 1980 - guardian.co.uk Exports fell 16.4% last year to ¥71.1 trillion as makers of consumer electronics and…

News

Links: 2009-04-21

Edward Harrison Apr 21, 2009

BBC NEWS - Detroit's long road to ruinThis is a fairly good look at what Detroit faces for itself, its schools and its citizens. Very sobering. Jesse's Café Américain: Break The Big Banks Up, and Let the Insolvent Parts FailThis will…

Political Economy

Statements on Capitol Hill by Geithner and Warren

Edward Harrison Apr 21, 2009

Below you can watch a video clip of Congressional Oversight Chairperson Elizabeth Warren's introductory remarks at a hearing today on Capitol Hill. Afterward, Treasury Secretary Tim Geithner responds in a 10-minute open statement.

Economy

Simon Johnson: Too big to fail is “too big to exist”

Edward Harrison Apr 21, 2009

Simon Johnson, a former IMF Chief Economist, who blogs over at the Baseline Scenario, is testifying before Congress today about 'Too big to fail' financial institutions. Below is a video in which he tells Bloomberg his thoughts on the…

Economy

GM and Chrysler to get more bailout money

Edward Harrison Apr 21, 2009

Apparently the Obama Administration was just bluffing about bankruptcy for the automakers, because when push came to shove, they blinked. The automakers are to get yet more bailout funds and the dates for restructuring plans hae been…

Economy

Britain gets deflation

Edward Harrison Apr 21, 2009

An increasing number of countries are recording negative year-on-year inflation numbers. I reported first on Spain, then on Switzerland. Add the U.K. to the list as well. Deflation returned to Britain for the first time in nearly five…

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