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

Why is General Electric paying a dividend of 10%?

Edward Harrison Jan 23, 2009

General Electric released its earnings report, posting net income in line with analyst estimates. And the world had a big sigh of relief. In posting its earnings, GE CEO Jeffrey Immelt defended his company's dividend and AAA rating.

Economy

Mea Culpa: I was too bullish on the BofA-Merrill deal

Edward Harrison Jan 22, 2009

Merrill Lynch is looking like a real dog these days -- much more than I realized back in September. As bearish/cautious as I have been on the economy and the financial sector, obviously I was not cautious enough. When the deal got done I…

Political Economy

Denmark wants in on the Euro

Edward Harrison Jan 22, 2009

Danish Prime Minister Fogh Rasmussen is preparing Denmark for admission to the Eurozone. Despite my skepticism about the Euro as a currency, I would say that Denmark is a perfect candidate for entry. The Danish economy is already very…

News

Links: 2009-01-22

Edward Harrison Jan 22, 2009

As I write this, stock markets in the U.S. are in their final hour of a rather poor session. Selling seems to have been brought on by Microsoft's announcement that it is cutting jobs en masse for the first time ever. If you recall, Fred…

Economy

Violence erupts in Iceland

Edward Harrison Jan 22, 2009

As this deepest of recessions takes hold, an increasing number of countries are seeing outbreaks of civil unrest. First it was Greece. Later, we saw unrest in the Baltics in Riga and Vilnius. Now, Iceland is experiencing the same. These…

Political Economy

TARP dividends are killing bank profits

Edward Harrison Jan 22, 2009

When the Bush Administration gave banks money under the Troubled Asset Relief Program (TARP), it was not a complete freebie. The government has received preferred shares in many institutions. This shares pay dividends to the government…

Economy

Tips for small business owners struggling amidst the credit crisis

Edward Harrison Jan 22, 2009

This article is from special guest contributor Steve Sildon, Senior Editor for CreditCardAssist.com, where he provides tips and advice for business owners on the strategic use of short-term debt and credit cards for small business…

Economy

U.S. jobless claims: Claims rise 62,000 to 589,000

Edward Harrison Jan 22, 2009

This past week, jobless claims settled in at a level near 600,000 after a few weeks of decline due largely to seasonal adjustments. Jobless claims were 589,000 while continuing claims were 4,607,000.

Political Economy

EU: Banks ask for a bailout for poor lending in Eastern Europe

Edward Harrison Jan 21, 2009

The need to bailout banks for their aggressive lending in central and eastern Europe is becoming ever more apparent. An Austrian bank has taken the lead in getting a consortium of banks together to lobby the European Union for bailout…

Economy

Bailouts: catching a falling knife

Edward Harrison Jan 21, 2009

This post from January 2009 explains why banks do not increase lending capacity when uncertainty about the level of existing loan losses already on their balance sheet makes them worry about future loan losses. Credit wariness will be the…

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