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

Credit Unions in trouble

Edward Harrison
I wish it were not so, but it is increasingly obvious that every part of the financial sector in the United States is infected by this menacing plague of credit losses and writedowns. Now it comes to light that the five biggest U.S. credit…
Economy

UBS reports Tuesday: brace yourself

Edward Harrison
Let's hope the UBS earnings report is not as bad as Merrill. If you recall, Citi, Merrills and UBS are the three worst offenders when it comes to writedowns. Given the recent asset sales by RBS and Merrill, one would expect to see some…
Economy

What is a credit writedown?

Edward Harrison
A credit writedown is a reduction in the value of an asset as it is carried on a company's balance sheet. As these losses must also be reflected on the income statement, credit writedowns result in massive losses.
Economy

Writedowns hit $500 billion

Edward Harrison
After RBS's writedowns on Friday, Bloomberg estimated that we have had nearly $500 billion in writedowns in the so-called 'sub-prime' crisis to date.Barclays, Britain's third-biggest bank, had first-half writedowns of 2.8 billion pounds, it…
Economy

I was wrong on inflation

Edward Harrison
For much of the past year I have been a critic of the Fed for keeping rates in easy money territory. One major reason was that they were going to let the inflation genie out of the bottle and that was going to be a problem. Now, I feel…

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More