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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

Michael Panzner: Financial Armageddon?

Edward Harrison Feb 23, 2009

Fellow econblogger Michael Panzner of Financial Armageddon was on Bloomberg TV and radio today telling folks what all of this credit crisis, bear market, nationalization stuff really means for globalization, the U.S. and stocks. He…

Markets

Major indices break through 1997 lows

Edward Harrison Feb 23, 2009

The Dow Jones and the S&P 500 both closed at levels not seen in nearly twelve years. Despite a 'bailout rally' for the financials in the morning, the day was marked by heavy selling with the Dow down to 714 and the S&P ending the…

Economy

Amex: paying cardholders to close accounts

Edward Harrison Feb 23, 2009

From the National Post: American Express Co., the largest U.S. credit-card company by purchases, is paying some cardholders US$300 each to close accounts so the lender can reduce the risk of defaults as the recession deepens. People who…

Economy

JPMorgan cuts its dividend fom 38 to 5 cents

Edward Harrison Feb 23, 2009

From MarketWatch: J.P. Morgan Chase said late Monday that its board cut the company's quarterly dividend to 5 cents from 38 cents, effective for the dividend payable April 30. "The board anticipates maintaining this level for the time…

Business

‘Slumdog’ cleans up at the Oscars

Edward Harrison Feb 23, 2009

Right now I am trying to forget that we are back to 1997 levels on the market. So, I am posting this WSJ clip about the Oscars. Overall, I guessed 4 out of 7 of the big categories right. It was the best show in years with "Slumdog…

Political Economy

America needs a pre-privatization plan

Edward Harrison Feb 23, 2009

UPDATE: This is another re-post given the huge bailout just administered to AIG. I am coming out in favor of nationalization in the United States. The efforts to fix the banking system to date have failed. As a result, America is still…

News

Links: 2009-02-23

Edward Harrison Feb 23, 2009

Americans Would Be Lucky to Mimic 1990s Japan: William Pesek - Bloomberg.com Will Germany deliver on the Faustian bargain that created monetary union? - Telegraph U.S. economy seen starting recovery in second half of '09: poll | Reuters…

Political Economy

Nationalization talk everywhere

Edward Harrison Feb 23, 2009

Everybody is talking about nationalization. The latest trigger is the Citi discussions with the U.S. government to convert taxpayers' preferred shares into common equity. Below are a few Bloomberg video clips from just this morning…

Markets

Spain: who is responsible for the property bubble?

Edward Harrison Feb 22, 2009

As recession takes hold, European citizens are starting to ask questions about how they were led into this, the deepest downturn in three-quarters of a century. The leading Spanish daily El Pais published a very thoughtful article today…

Economy

Citi: looking for as much as a 40% stake from the government

Edward Harrison Feb 22, 2009

This news is just in from the Wall Street Journal. Obviously, all of the activity we have seen with Citi's foreign subsidiaries of late has been in preparation for sale or nationalization. I expect this to be the big news when markets…

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