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.

Markets

Treasurys are in a bubble

Edward Harrison Dec 15, 2008

The yield on all U.S. Treasurys securities are at historic lows. The 3-year T-bill and the 1-year T-bill have both actually sported negative yields -- meaning investors are paying the U.S. Governemnt to borrow money from them. This is the…

Political Economy

Irish government unveils plan to recapitalise banks

Edward Harrison Dec 15, 2008

Today the Irish government has unveiled a 10 billion euro plan to recapitalise its outsized banking sector. I have posted a number of times about the depth of woes in Ireland including the high debt-to-gdp level, the crashing property…

Political Economy

Russia devalues currency again as foreign reserves plummet

Edward Harrison Dec 15, 2008

Russia is one country that we do not want to see fall on hard times. It has great geo-strategic power, but a weak economy, declining oil output and revenues and increasingly autocratic rule? Now it is being roiled by the global financial…

News

Links: 2008-12-14

Edward Harrison Dec 14, 2008

Hello again and happy Sunday reading. I have the useful rubbernecking fascination with Bernie Madoff again today. But, my focus is a bit different today. You will see a lot of stories about the UK. In the wake of the massive $11 billion…

Political Economy

Latest update on Bloomberg suit against Fed

Edward Harrison Dec 13, 2008

Back in November, Bloomberg News was forced to sue the Federal Reserve to gain greater disclosure on how emergency loans were being made to financial institutions and on what collateral was being used. I have followed this story closely…

News

Links: 2008-12-13

Edward Harrison Dec 13, 2008

I continue to be impressed by the absolute magnitude of the Madoff scandal. This Ponzi scheme went on for decades. It is a truly frightening spectacle. See some of the articles below. Otherwise, it's a Potpourri from around the net.…

Macro Maven: Expect a long difficult recession

Edward Harrison Dec 13, 2008

Stephanie Pomboy is an economist who specializes in macroeconomic forecasting and their implications for investors and she has some very bad news for those looking for a quick recovery: it's not going to happen. In Barron's latest issue,…

Economy

FDIC shuts down Haven Trust and Sanderson State

Edward Harrison Dec 12, 2008

Another Friday night in America means another bank goes bust. This week, it's two banks: Haven Trust of Georgia nd Sanderson State of Texas. BB&T is stepping in for the deposits at Haven Trust. And Pecos is taking the deposits at…

Economy

Writedown News: 12 December 2008

Edward Harrison Dec 12, 2008

It's been a month since I updated my list of writedowns and other credit crisis-related news, so I am sure that this list is filled with holes and missing information. Here it goes nonetheless. Below are the writedowns from the previous…

News

Links: 2008-12-12

Edward Harrison Dec 12, 2008

It's Friday and the madness must come to an end. I don't have a lot on the table so I'll leave you with just the usual links. I would say the Madoff stuff is pretty unbelievable. See the first four articles to see what I mean. Other news…

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