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

Bloomberg talks about the meltdown in Eastern Europe

Edward Harrison Feb 17, 2009

The video below gives an excellent view into the issues affecting European banking. Tom Keene, who is Bloomberg Radio's editor-at-large, sees the International Monetary Fund (IMF) as the ultimate solution to the problems in Eastern Europe.…

Markets

Will sovereign wealth funds pour yet more money into the West?

Edward Harrison Feb 17, 2009

Sovereign Wealth Funds (SWFs) are losing money hand over fist, which should leave one wondering whether their appetite for Western assets will continue to bolster those markets. Funds in Asia and the Middle East have been hit by a…

News

Links: 2009-02-17

Edward Harrison Feb 17, 2009

Eastern European currencies crumble as fears of debt crisis grow - Ambrose Evans-Pritchard, Telegraph CDS report: Emerging exposures hurt banks - FT Alphavile 'Drunk' Japan minister to resign - BBC News Schwarzenegger Prepares to Layoff…

Political Economy

Geithner and Summers consolidate power

Edward Harrison Feb 16, 2009

If you recall, a few months ago there was a lot of speculation in Washington about Paul Volcker being named a 'car czar' to deal with the problem with the Big Three automakers. That idea has fallen by the wayside. President Obama has named…

Economy

Kansas and California and the race to U.S. state insolvency

Edward Harrison Feb 16, 2009

California's problems are well-known. They have been in the making for sometime. When I predicted a U.S. state would go bust this year, California was very much on my mind. But, frankly, Kansas was nowhere on my radar screen. Now…

Political Economy

A reminder about new mark-to-market rules in Europe

Edward Harrison Feb 16, 2009

Danielle, a European reader, recently asked what is going on in the European Union regarding mark-to-market. Basically, the EU has already relaxed mark-to-market requirements as an outgrowth of the market turbulence surrounding Lehman…

Economy

Does Japan’s economic implosion mean anything?

Edward Harrison Feb 16, 2009

Overnight, the Japanese government released figures for Q4 2008 GDP that pointed to a depression-like fall in the Japanese economy. GDP contracted 3.3% from Q3, or 12.7% using the U.S. convention of annualizing those numbers. This is the…

Economy

IMF Head Dominique Strauss-Kahn on Charlie Rose

Edward Harrison Feb 16, 2009

The man who recently uttered the D-word about the global economy tells all to Charlie Rose. The video is from this past Friday.

Daily

Poll: Is this a recession or a depression?

Edward Harrison Feb 16, 2009

On February 6th, I started a poll asking whether the global economy was experiencing a recession or a depression. In the interim, I have tried to stay neutral on the issue. Now it is time to close out the poll. Below you can add your…

Economy

UBS is sitting on billions in bad student loans

Edward Harrison Feb 15, 2009

Below is my translation from an excerpt in the Swiss newspaper NZZ: In 2008, the lucrative business with loans to U.S. students came to an abrupt end. Today, UBS sits on paper that could still be worth $8.4 billion - or less. The collapse…

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