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.

Political Economy

1995

Edward Harrison Mar 26, 2009

The political realities of solving a financial crisis have often meant circumventing legislative approval to meet the exigencies of a particular situation. This was certainly the case in 1995 during the so-called Tequila Crisis in Mexico.…

Political Economy

Video: Geithner calls for single agency to oversee systemic risks

Edward Harrison Mar 26, 2009

Story from Investor's Business Daily: Treasury Secretary Timothy Geithner called for "new rules of the game" on Thursday, including a systemic-risk regulator, stronger capital cushions for banks, and more disclosure from hedge funds.…

Economy

U.S. jobless claims of 652,000 show continued weakness

Edward Harrison Mar 26, 2009

Jobless claims for the week ending March 21st are in. There were 652,000 initial claims last week, bringing the unemployment roles to a record 5.56 million. Both figures are seasonally-adjusted and reflect minor changes in seasonal…

Economy

Are Citi and BofA gaming the Geithner Plan already?

Edward Harrison Mar 26, 2009

Here we are just days out from the announcement by Treasury Secretary Tim Geithner that the Obama Administration will be buying up so-called toxic assets as originally planned by Henry Paulson during the Bush Administration. The initial…

Markets

Auto Loan ABS market best of the bunch

Edward Harrison Mar 26, 2009

This comes via Angus Robertson of Research Recap: The performance of auto loan securities has been mixed, but Standard & Poor’s Credit Research points out that overall ratings on the ABS have been remarkably stable in spite of…

News

Links: 2009-03-26

Edward Harrison Mar 26, 2009

Here are the main links. A ton more can be found in the news feed (also available via RSS). Enjoy. Has the Gaming of the Public-Private Partnership Begun? - Yves Smith Daddy, tell me, what exactly is a derivative? - James Carville,…

Monetary System

Fix the real economy first: lessons from James Montier

Edward Harrison Mar 25, 2009

James Montier has a very good piece out via John Mauldin ([email protected]) on the need for real economy stimulus over financial sector stimulus. The quote I find most memorable goes to the heart of our debate about the…

Economy

Moody’s anticipates huge increase in leveraged loan defaults

Edward Harrison Mar 25, 2009

This comes via Angus Robertson at Research Recap. Just as the RMBS post yesterday confirmed, moe writedowns are coming in other credit classes: In a trend likely to accelerate in 2009, the default rate on bank loans to speculative-grade…

News

Links: 2009-03-25

Edward Harrison Mar 25, 2009

Here are the main links. A ton more can be found in the news feed (also available via RSS). Enjoy. Dear A.I.G., I Quit - Paul Kedrosky The devalued Prime Minister of a devalued Government - Alice Cook This video is good. U.S.…

Political Economy

Krugman: Geithner Plan “won’t work”

Edward Harrison Mar 25, 2009

I have the same misgivings about the Public Private Partnership Investment Program that Paul Krugman does. However, I still think it could work in conjunction with all of the other stimulus being applied (at least in inducing a cyclical…

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