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

Dow down 500 points

Edward Harrison
So it does seem like we are experiencing a crash. While today's loss was less than the Dow's 777 point debacle 8 days ago, the breadth of decline was stunning. Every component of the Dow was down on the day. In the S&P500, only 18 of…
Economy

Credit in the US is collapsing

Edward Harrison
If you haven't noticed, credit is hard to come by these days. And the data are finally showing this state of affairs. The latest data from August show that consumer credit plunged by $7.9 billion, the most since record keeping…
Political Economy

Recapitalising Britain

Edward Harrison
Prime Minister Gordon Brown has finally pulled the trigger. In the most momentous move yet in the credit crisis, the UK government is effectively partially nationalising the UK banking system. For months, I have maintained that the…
Economy

Writedown news: 7 Oct 2008

Edward Harrison
As I do every week, I am updating you with links to important news in the credit crisis. These links are compiled in my credit crisis timeline, which is the most comprehensive list credit crisis links on the Internet.However, one big hole…
More

Bloomberg’s Financial Glossary

Edward Harrison
For those of you who think that finance is mumbo jumbo and can't make heads or tails of what anyone is talking about this time, I have a solution:Bloomberg's Financial GlossaryThis is a great resource with over 8,000 entries and 18,000…
News

News round-up: 7 Oct 2008

Edward Harrison
The Credit Crisis has clearly moved on to Europe, as events there are showing the kind of crisis we have been seeing here.The UK Treasury has broached the possibility that it would buy equity in major British banks. Iceland is on the verge…
Economy

Bank of America cuts its dividend

Edward Harrison
In a move widely anticipated for months by many analysts, Meredith Whitney amongst others, Bank of America has finally cut its dividend. Releasing its earning report two weeks early, BofA said it would cut the dividend 50%. I view the…
Markets

Five Books not to buy

Edward Harrison
Here are five books you will NOT find me touting at the Credit Writedowns Amazon Store.Dow, 30,000 by 2008: Why It's Different This Time - Robert ZuccaroDow 36,000: The New Strategy for Profiting From the Coming Rise in the Stock Market -…
Markets

Noontime markets update

Edward Harrison
The markets are having a very bad day today. After we saw the Europeans were also vulnerable to this credit crisis, stock markets worldwide sold off, with many European markets seeing their largest drops since 1987. For Europe, today is…

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