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.

Blogs

Blog changes: Blogger or WordPress?

Edward Harrison Nov 8, 2008

I am off to the beach this weekend, so blogging will be light. But I wanted to ask for help on a technical issue first.We have been using Blogger's platform to run this blog for the past 8 months or so. However, we have run up against a…

Monetary System

Two more FDIC Friday Night Specials: Franklin and Security Pacific

Edward Harrison Nov 7, 2008

It is now a ritual. Every Friday night the FDIC announces which banks have been playing fast and loose with our money and need to be shut down. This week, there are two banks, Security Pacific of Los Angeles and Franklin of Houston.…

Political Economy

Bloomberg News sues the Fed under Freedom of Information Act

Edward Harrison Nov 7, 2008

For those of you concerned about the Fed's risky behavior, its ballooning balance sheet, and its acceptance of dodgy collateral, well you may be about to see whether the American democracy can allow this unchecked power to continue without…

Economy

US unemployment rate jumps to 6.5%

Edward Harrison Nov 7, 2008

After stalling at 6.1% in September, the U.S. unemployment rate jumped to 6.5%. This was a truly ugly report as we saw payrolls go down by 240,000 - more than forecast and September was revised up significantly from 169,000 to 284,000.…

News

News round-up: 6 Nov 2008 – has the bear returned?

Edward Harrison Nov 6, 2008

So, here we are one day into a brave new world, having seen America elect Barack Obama President. You might think the clouds would part, the sun would come out and all would be well with the world. Yet, it seems like quite the opposite is…

Monetary System

Why should central banks cut interest rates?

Edward Harrison Nov 6, 2008

Central banks around the world are whacking interest rates at a breakneck clip. The Fed, the Reserve Bank of Australia, the Bank of Japan and now the ECB and the BoE. The BoE made the most dramatic move with an outsized 150 basis point…

Markets

Taleb and his Black Swan funds have stellar performance

Edward Harrison Nov 6, 2008

Nassim Nicholas Taleb, the sometimes obnoxious writer of the "Black Swan" is now a fund manager. His fund focuses on hedging against "Black Swan" events that are deemed highly unlikely by purchasing thing like out-of-the-money puts.…

Economy

Jobless claims drop but unemployment rolls at 25-year high

Edward Harrison Nov 6, 2008

Tomorrow is the day that we get a big piece of the data puzzle for the U.S. when the unemployment report is released. Most economists are expecting something very ugly with over 200,000 jobs lost. In the interim, we might be able to use…

Economy

What would an Obama foreign policy look like?

Edward Harrison Nov 6, 2008

Barack Obama promises to make some dramatic changes in U.S. foreign policy after eight years of a neo-conservative agenda. The question really is what would those changes be. Below, David Ignatius outlines a reasonable argument that Obama…

Economy

BoE makes a dramatic 1 1/2 point cut

Edward Harrison Nov 6, 2008

The Bank of England has cut interest rates to 3%, a 1 1/2 point cut. Just weeks ago, the BoE Governor Mervyn King was writing to the Government explaining how they had let inflation run out of control. However, with the economy tanking,…

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