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

Hungary cut to a notch above junk by S&P

Edward Harrison Mar 30, 2009

Standard and Poors had their hands full today cutting credit ratings. They cut Ireland. But, they also cut Hungary, putting the country just above a junk credit rating. I don't think these will be the last sovereign debt ratings…

Political Economy

Obama remarks on auto industry

Edward Harrison Mar 30, 2009

In 2 hours I will be on BBC World News Today talking about the recent government actions involving the auto industry. Afterwards, I will have more to say about this here. In the meantime, here is what Barack Obama had to say.

Economy

Nationwide: Press release on Dunfermline acquisition

Edward Harrison Mar 30, 2009

Dunfermline, the largest uilding society in Scotland was forced into the hands of the Nationwide. This happened only after the U.K. government was forced to pony up 1.6 billion pounds - not the best of news for Gordon Brown before a major…

Monetary System

Is the ECB all-in on printing money?

Edward Harrison Mar 30, 2009

Two weeks ago, the Fed roiled bond markets by signalling it would start to purchase Treasury bonds with printed money - the very definition of inflation. Now, its the ECB's turn to show it can inflate with the best of them. They have…

Economy

Spain gets deflation

Edward Harrison Mar 30, 2009

Spain is one of the original four bubble economies to implode. This group includes the U.S., the U.K. and Ireland. Unfortunately for the Spanish, in the wake of their property crash, things in Spain are looking particularly bleak with…

News

Links: 2009-03-30

Edward Harrison Mar 30, 2009

Zero Hedge: Exclusive: AIG Was Responsible For The Banks' January & February Profitability Basically Citi and BofA may have been telling tall tales about profitability in January and February. How a Modern Depression Might Look -- If…

Markets

Chart of the day: Dow 1914-1929 vs. 1982-1999

Edward Harrison Mar 29, 2009

While this bear market has been difficult, it does not compare to the 1930s as the graphs in this post indicate. And it's time to consider that the 2007-2009 bear market is almost over.

Political Economy

Tim Geithner defends bailout plan on “Meet the Press”

Edward Harrison Mar 29, 2009

Below is the video clip of U.S. Treasury Secretary defending his bailout plan which the likes of Paul Krugman have called "a plan to rearrange the deck chairs and hope that that keeps us from hitting the iceberg." The investors'…

Economy

Spain intervenes to save Caja Castilla La Mancha

Edward Harrison Mar 29, 2009

This comes via Edward Hugh at "A Fistful of Euros": The governing council of the Bank of Spain has taken the decision to intervene in the operation of the Caja after carrying out an analysis of its financial position, thus taking as read…

News

Links: 2009-03-29

Edward Harrison Mar 29, 2009

Mauldin on Housing? - CR This points out the problems with data analysis during this difficult downturn (hat tip stiletto heels) The New Hard Times - NY Times Video hat tip Barry Ritholtz 'Moshi-moshi' recession - Japan Times You know…

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