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.

Peter Schiff: they laughed at him, now he’s laughing back

Edward Harrison Nov 14, 2008

I have been tied up with other activities all day today. But, I just had to send this post on Peter Schiff. My brother-in-law sent me this video a second ago of Schiff predicting doom and gloom on YouTube. And it's actually kind of funny to…

Monetary System

G-20 Summit:A look back to Bretton Woods

Edward Harrison Nov 14, 2008

Here in Washington, DC, we are preparing for the G-20 summit, the largest gathering of foreign leaders in this own since the 50th anniversary of NATO in 1999. The event has been billed as a latter-day Bretton Woods, a forum to reform the…

Economy

Unemployment claims over 500,000: only third time in quarter century

Edward Harrison Nov 13, 2008

516,000. That's the number of people who filed for employment claims this past week. This is the highest number we have seen since September 2001, just after 9/11. The last time we saw claims over 500,000 before that was July 1992.…

Political Economy

Paulson is handing out free money like candy to a baby

Edward Harrison Nov 13, 2008

Hank Paulson knows he has two months left until he leaves Washington. Therefore, he must feel he needs to pass out as much free cash to his friends in banking and finance before he leaves town. Or, at least so it seems. The latest story I…

News

News round-up: 13 Nov 2008

Edward Harrison Nov 13, 2008

I have been doing these round-ups rather sporadically now, but the news flow is still considerable. In fact, the news flow is so much that I have off-loaded my links onto a feed which you can access here.The main story I am following is the…

Economy

Should GE be a AAA company?

Edward Harrison Nov 12, 2008

The latest news in bailouts involves GE Capital. Apparently, the company has gone begging to the FDIC for a bailout. In fact, the FDIC has offered to back $139 billion in GE Capital debt. I have serious reservations about this move by…

Economy

Writedown News: 12 November 2008

Edward Harrison Nov 12, 2008

The big news this week is that writedowns have moved near trillion dollar territory. As all of the banks report earnings and come clean about losses, the figures are staggering. The largest writedowns came from the GSEs with Fannie Mae…

Political Economy

Dean Baker: The High Priests of the Bubble Economy

Edward Harrison Nov 12, 2008

Deregulation and laissez-faire orthodoxy bears much of the blame for the current economic mess we are experiencing. Dean Baker notes with chagrin that Barack Obama, who will take office as U.S. President shortly, has put some of the…

Political Economy

Iceland: a cautionary tale for small nations

Edward Harrison Nov 12, 2008

Jon Danielsson has a very thorough piece up on the VoxEU site which details the catastrophic collapse of Iceland and its banking system. This is a cautionary tale on two fronts. First, Iceland was a small country with a very large…

Economy

Law firm confirms the disaster at Lehman

Edward Harrison Nov 12, 2008

Many will suffer at the hands of Lehman Brothers. That is the verdict by white-shoe law firm Wachtell, Lipton, Rosen & Katz - a firm I had the pleasure of working with during my previous life in finance. They are very good.…

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