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

European banks have hands out for more capital

Edward Harrison Mar 18, 2009

While most people have their attention tuned to the spectacle over at AIG, financial institutions in Europe are having their own difficulties. In the last day, I have seen news stories of European banks looking for ways to raise capital in…

Political Economy

TALF’s first recipient will be Nissan Motors of Japan

Edward Harrison Mar 18, 2009

As I mentioned in my post, "TALF: A bailout if one reads the fine print" the TALF is not a program ONLY for U.S. institutions. It is a vehicle for re-starting the U.S. asset-backed securities credit markets. In fact, the first recipient…

Economy

The real story behind those greedy AIG bankers

Edward Harrison Mar 18, 2009

This comes via the website The Agonist (Hat tip Scott). I have bolded the important bits: So what are AIG’s arguments for making these bonus payments? All 450 employees of AIG in London, where the derivatives contracts were booked and…

News

Links: 2009-03-18

Edward Harrison Mar 18, 2009

Here are the main links. Others can be found in the news feed (also available via RSS). Enjoy. IMF poised to print billions of dollars in 'global quantitative easing' - Telegraph (hat tip Artur. Gold, anyone?) China blocks…

Economy

Has anyone figured out the AIG employees are in London?

Edward Harrison Mar 18, 2009

The AIG employees who are the subject of so much venom because they have received massive bonuses while their organizatio is being propped up by $170 billion in taxpayer money are not even in the United States. They are in London.

Economy

A few thoughts about the banking crisis response in the United States

Edward Harrison Mar 17, 2009

This is a post I wrote last week on naked capitalism. In any banking crisis, the central question always is: which financial institutions now operating are insolvent, how can we identify them and remove them from the system, and how can…

Economy

Russia to re-arm: Obama’s first test

Edward Harrison Mar 17, 2009

The foreign policy challenges facing the new Obama Administration have mounted significantly in recent days. On the back of civil unrest and trade sanctions in Mexico, a destabilizing power struggle in Pakistan, the latest news to hit in…

Monetary System

Is Mexico imploding?

Edward Harrison Mar 17, 2009

I plan to visit Mexico early next month as I do at least one or twice every year. This year I question what awaits me as evidence that Mexico's economy and civil order is imploding mount. The latest strike against Mexico comes in its now…

Markets

China sovereign wealth fund diversifies into a massive loss

Edward Harrison Mar 17, 2009

We have seen absoultely catastrophic losses at the world's Sovereign Wealth funds in the Middle East, Singapore, Norway, you name it. Add China to this list. China's State Administration of Foreign Exchange diversified its money out of…

Economy

It’s a great time to start a bank

Edward Harrison Mar 17, 2009

With the shadow banking system of hedge funds and non-bank financial institutions in shambles and the banking system's credit shrinking, U.S. government officials are desperate to get credit into the system any way they can. A key part of…

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