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.

Economy

George Soros: the credit crisis of 2008

Edward Harrison Sep 11, 2008

George Soros recently released an interesting book called "The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means." The book critiques the new 'efficient markets' paradigm that has come to both control the…

9/11: A moment of silence, please

Edward Harrison Sep 11, 2008

Today is September 11th. This date should always be remembered as many lives were lost in senseless and malicious acts of violence against innocent civilians. My personal life was shattered by the events of 9/11 so this date will always…

News

News round-up: 11 Sep 2008

Edward Harrison Sep 11, 2008

Articles below in the news include talk about Lehman, WaMu, and Deutsche Bank. The stock plummeted in the pre-market as it is downgraded by banking analysts who were not impressed by yesterday's conference call. Hurricane Ike forces an…

Economy

Jobless Claims down, continuing claims way up

Edward Harrison Sep 11, 2008

The Department of Labor released jobless claims numbers today at 8:30 AM. Jobless claims came in at 445,000, down from an upwardly revised 451,000 the week before. Claims are averaging now 440,000 for the past 4 weeks, 115000 higher than…

Political Economy

The nationalization of America’s mortgage problem

Edward Harrison Sep 11, 2008

This is a topic I first broached in May. The United States has a mortgage problem in that house prices have fallen so much and the financial sector is so leveraged that the U.S. faces systemic banking risk from a vicious circle in the…

Daily

Revisiting my predictions for 2008

Edward Harrison Sep 10, 2008

At the end of July, I wrote a post of my top ten predictions for the remainder of the year. A third of the way into things, my predictions are looking pretty good...so far. I said:Oil prices will dip below $100 before year-end.Inflation…

Economy

Regionals options suffer due to accounting rules

Edward Harrison Sep 10, 2008

Seven years ago, I was involved in a merger that was the last proposed under the old pooling of interests accounting rule that was phased out after June 30, 2001. This methodology was great because it didn't necessitate acquiring companies…

Economy

Writedown news: 10 Sep 2008

Edward Harrison Sep 10, 2008

Below are the latest writedown stories from the web that I have seen. Quite honestly, I have been a little behind in updating all of the stories on the timeline, so please call me out on anything important I failed to add.For the full…

Economy

RAB looks to halt redemptions for three years

Edward Harrison Sep 10, 2008

RAB Capital, the hedge fund that lost a good deal of capital in its quest to capitalize on the Northern Rock situation now finds itself losing investor money. In fact, it is looking to halt redemptions from its funds for three years. This…

Economy

Lehman Brothers earnings: loss of $3.9 billion

Edward Harrison Sep 10, 2008

Lehman Brothers released their earnings report this morning at 7:30 AM. Lehman saw a Q3 loss of $5.92 a share, or $3.9 billion. There was a lot of speculation in the markets yesterday about Lehman's liquidity after talks for an investment…

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