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.

News

News Round-Up: 24 Jul 2008

Edward Harrison Jul 24, 2008

PoliticsSurvey finds oil bonanza in Arctic - National PostA Short Primer on McCainomics Versus Obamanomics: Top-Down or Bottom-Up - Robert ReichBush drops opposition to housing bill - LA TimesMcCain Credits Bush For Drop in Oil Price -…

Economy

$467 billion in writedowns and counting

Edward Harrison Jul 23, 2008

This reporting season, there have been some major, major writedowns from the likes of WaMu, Citi, Merrill, and Wachovia. Most analysts see this quarter as the last quarter of major writedowns from the credit crisis. Haven't we heard that…

Markets

Alt-A and Option ARMs set for big losses

Edward Harrison Jul 23, 2008

Consumer credit quality is weakening across the US, especially in the former housing boom states. While over $450 billion in credit writedowns have already been taken by the global financial sector, most of these losses ave been…

Markets

Have commodity prices peaked?

Edward Harrison Jul 23, 2008

I certainly believe they have. Price action speaks to this. The Wall Street Journal's Market Beat had this quote about the price action in commodities:The price of many commodities and commodities stocks — from gasoline to coal to…

Economy

Security concerns create EU-US diplomatic row

Edward Harrison Jul 23, 2008

America's security concerns due to terrorism are having unwanted side effects in relations with the EU. Handelsblatt, the German newspaper is reporting that visa requirements for some EU citizens is causing the EU to retaliate with visa…

Economy

Security concerns boomerang on the US

Edward Harrison Jul 23, 2008

Economy

Costco getting hit by energy costs

Edward Harrison Jul 23, 2008

Costco is getting hammered today because it warned earnings will fall short due to higher inflation.Costco Wholesale Corp., which had been one of the few bright spots in retailing, said today that its earnings will miss Wall Street…

Economy

George W. Bush: “There is no question about it. Wall Street got drunk”

Edward Harrison Jul 23, 2008

Talking about the financial markets and the housing mess, George W. Bush offered up these pearls of wisdom:"There is no question about it. Wall Street got drunk.... That’s one reason I asked you to turn off your TV cameras.... got drunk and…

Markets

Tapping the 401K and unrealized gains

Edward Harrison Jul 23, 2008

I just picked up on a MarketWatch article about 401(k) debit cards through Tim Iacono's blog. It marks a pretty astounding trend in financial innovation.Debit cards are straightforward. You use them for purchases and money is deducted from…

Economy

UBS: New York Attorney General to file suit

Edward Harrison Jul 23, 2008

As the downturn gathers steam, lawsuits against financial firms are going to rise. Below is the latest in lawsuits. The associated WSJ article is available only to subscribers.New York state Attorney General Andrew Cuomo is preparing to…

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