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.

Political Economy

Australia bans short selling too

Edward Harrison Sep 22, 2008

It seems incredible - this rollback of the free markets. But, six countries have now banned short sellers of financial shares as if they are solely responsible for the market meltdown we suffered in the wake of the Lehman bankruptcy. The…

News

News round-up: 21 Sep 2008

Edward Harrison Sep 21, 2008

Everyone and his brother is talking about the bailout plan from U.S. Treasury Secretary Hank Paulson. I am not going to add my voice to the cacophony just yet, except to remind readers that the executive branch and the Federal Reserve are…

Economy

How safe are your assets?

Edward Harrison Sep 20, 2008

Recently I wrote a post on the safety of investment assets in the wake of the Lehman and AIG meltdowns. Even still, retail and individual investors are noticeably nervous about the safety of their funds.Last night on the radio, I heard a…

Economy

Ameribank: the latest FDIC bankruptcy takeover

Edward Harrison Sep 19, 2008

Today, after the markets closed, in another Friday Night Special, the FDIC announced the failure of Ameribank. This represents the 12th bank failure this year and the 14th since the credit crisis began last August.See my list of Bankrupt…

Economy

Disappearance of capital sources is true cause of Lehman failure and AIG rescue

Edward Harrison Sep 19, 2008

Why did Lehman really fail? The equity window is effectively closed for most financial services companies. This fact was the true trigger for the meltdown in AIG and Lehman and the problems at WaMu, HBOS and Merrill Lynch. Moreover, it…

Blogs

Get Daily Updates from Credit Writedowns

Edward Harrison Sep 19, 2008

Credit Writedowns is a blog that updates you with the latest on finance, economics, markets and politics. If you sign up for our daily newsletter, you will receive daily emails from us on those topics. You can unsubscribe at any time. To…

Political Economy

Definition of the day: the law of unintended consequences

Edward Harrison Sep 19, 2008

Given the fact that the regulatory authorities in the U.S. and the UK have taken the unusually manipulative step of banning all short sales of financial institutions outright, it bears remembering that all actions have consequences, both…

Economy

Short-selling financial shares is now illegal

Edward Harrison Sep 19, 2008

The latest government intervention into the capitalist system is the move by the UK and U.S. governments to ban short-selling of all financial stocks outright.In the wake of the severe market turbulence unleashed by the failure of Lehman…

Business

Chart of the day: the largest bankruptcies in US history

Edward Harrison Sep 18, 2008

The bankruptcy of Lehman Brothers, with assets of over $600 billion is the largest in U.S. history. Wikipedia has catalogued the list of the largest U.S. bankruptcies of all time. (Hat tip: Börsennotizbuch) Drum roll, please. The current…

Economy

AIG: a short post-mortem

Edward Harrison Sep 18, 2008

The meltdown of the world's largest insurer AIG (AIG) makes the stakes of this credit crisis plain to all. In my view, the AIG situation and the subsequent turmoil in financial markets could have been avoided. The markets were clearly on…

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