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

Ron Paul on the Housing Bill

Edward Harrison
Ron Paul sounds off on the housing bill that was just passed. This bill has more problems associated with it than any bill we have seen enacted to counteract the economic downturn. The moral hazard, the lack of congressional oversight, and…
News

News Round-Up: 25 Jul 2008

Edward Harrison
Housing: US, UK and SpainBright spots in the housing nightmare - MSNU.S. Mortgage Rates Soar on Inflation Fears - Housing WireU.S. Existing Home Sales Continue Freefall - Housing WireOversupply killing U.S. lender giants and house prices -…
Economy

MBIA and Ambac sued by LA

Edward Harrison
The lawsuits are piling up. America is a very litigious country and when things go wrong people sue. That's one reason one should realistically expect the courts to be clogged with all manner of suits on bond insurance, auction rate…
Markets

Is the short covering rally over?

Edward Harrison
The day is almost over for the market (thank goodness) and it seems that financal service investors are in panic mode again. The market is down over 250 points and some shares in financial services are down over 15%. What gives?As we may…
Economy

HBOS versus Freddie and Fannie

Edward Harrison
The U.S. House of Representatives has passed the housing bailout bill helping troubled mortgage borrowers, but also giving the U.S. Treasury Department a blank check to support Fannie Mae and Freddie Mac. The New York Times describes it…
Economy

UK retail sales drop most in 22 years

Edward Harrison
The headline says it all. The U.K. has fallen into its economic downturn with much greater speed than the U.S. Retail sales were down in June3.9% after a rise of 3.6% in May.U.K. retail sales dropped in June by the most since at least 1986…
Economy

US jobless claims up this week

Edward Harrison
U.S. jobless claims were 406,000 on a seasonally adjusted basis, up 34,000 on the week prior and surpassing 400,000 for only the 3rd time this business cycle. While the numbers were large, they are very distorted by seasonal adjustment…
Economy

Spanish unemployment up

Edward Harrison
Spain had an unemployment rate of 10.4% in the second quarter of 2008, up sharply from 9.6 in the first quarter. The Spanish National Statistics Market said employment in construction jobs were particularly weak as the housing bust in…

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