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

Bill Gross: This economy requires a check from the government

Edward Harrison Feb 6, 2009

Bill Gross, the man who controls the largest bond fund in the world, believes that trillions of dollars in government spending will be necessary to get the economy going again. He warns that if the government does not spend trillions of…

Economy

Marc Faber: The economic crisis is a consequence of U.S. government intervention

Edward Harrison Feb 6, 2009

Marc Faber thinks it would better to nationalize the banks rather than bail them out. In his view, we are seeing special interests feeding at the trough.

Economy

FDIC Friday Night Special: FirstBank of Georgia

Edward Harrison Feb 6, 2009

The FDIC has closed another bank. This time it is FirstBank of Georgia. The bank only had $285 million in deposits, so this was no titan. Regional powerhouse Regions Financial has assumed the deposits, which is positive because last week…

Economy

Massive U.S. job loss of 598,000 in January

Edward Harrison Feb 6, 2009

While job losses of 598,000 in today's report for January 2009 were more than the 525,000 expected, it was within the expected range. Evidence of this comes from the increase in long-term treasury yields and stock futures prices immediately…

Economy

U.S. jobless claims foreshadow an ugly unemployment number

Edward Harrison Feb 5, 2009

U.S. initial jobless claims soared to yet another 26-year high, registering 626,000 for the week ending January 31st. The continuing claims number was equally dreadful, hitting an all-time high of 4.79 million.

Economy

Infighting begins within Obama’s team

Edward Harrison Feb 5, 2009

We are barely two weeks into Barack Obama's tenure and reports are surfacing everywhere that his "team of rivals" is at each other's throat. President Obama had said just after the election that he was looking to pull together the best and…

News

Links: 2009-02-04

Edward Harrison Feb 4, 2009

Bloomberg set to cut foreign-language channels - Telegraph Paterson Leaks Intended to Smear Kennedy -- Political Wire Russia's debt rating downgraded by Fitch - National Post Martin Wolf - Why Davos Man is waiting for Obama to save him -…

Economy

GE Capital’s looming time bomb

Edward Harrison Feb 4, 2009

I do not think General Electric is AAA company -- far from it. Their finance arm GE Capital is at the center of the private equity and asset-backed security time bombs that have yet to explode. And this makes the cash flow expected from…

Political Economy

S.E.C. complicit in Madoff fraud, whistleblower says

Edward Harrison Feb 4, 2009

Harry Markopolos is a fraud examiner who once worked as a fund manager. He knows fraud when he sees it and he saw it as plain as day with Bernard Madoff, who ran the largest Ponzi scheme in history. In fact, he tipped off the regulators at…

Political Economy

Canada is furious about U.S. protectonism

Edward Harrison Feb 4, 2009

The "Buy American" clause stuck onto the stimulus bill wending its way through Congress is a pernicious piece of legislation because it has engendered a ferocious response from trading partners, not the least of which is Canada. Below is a…

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