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

US government discusses Fannie and Freddie bankruptcy

Edward Harrison Jul 9, 2008

According to a Wall Street Journal report, the Treasury is concerned enough about the viability of Fannie and Freddie that they have discussed contingency plans in the case of potential bankruptcy.Given the level of risk these two are…

Economy

South Africa: recession and he said, she said

Edward Harrison Jul 9, 2008

For those of you who care at all about what's going on in the world outside of your own country, there are a lot of countries in the throes of economic havoc. So, don't feel alone; you have plenty of company - South Africa included.Housing…

Economy

How many AAA companies fall 80%?

Edward Harrison Jul 9, 2008

How many AAA companies do you know of that have seen 80% declines in their market value?Two that I can think of:Fannie Mae (FNM)and Freddie Mac (FRE)

Political Economy

Chrysler building: is the Middle East the new Japan?

Edward Harrison Jul 9, 2008

If you haven't heard yet, you will soon. The Chrysler Building was snapped up by the Abu Dhabi Investment Council (otherwise known as the government of a foreign country). With the U.S. still sporting a current account deficit over 5% of…

Economy

Chart of the day: household debt vs. savings

Edward Harrison Jul 9, 2008

One reason many pundits feel this particular downturn will be quite nasty is the level of debt consumers have versus their savings. Since July 1982, when the stock market bottomed, Americans have been dis-saving and leveraging up like…

Economy

Australia is set for a slowdown

Edward Harrison Jul 9, 2008

From all accounts, it looks like Australia is set for a wicked slowdown. Four global industrial economies have been protected by commodity prices. They are Canada, New Zealand, South Africa and Australia. This Goldilocks scenario looks…

Markets

Oil down below $138

Edward Harrison Jul 9, 2008

Yesterday, oil fell the most in one day since the start of the Gulf War in January 1991 to close at $136.03 in New York trading. Now is the time to evaluate whether we have seen the top in oil prices? On Thursday in my post "Oil close to…

Economy

Bankrupt global financial institutions

Edward Harrison Jul 9, 2008

Latest Major Bankruptcy News 2007 06 13 IndyMac Sued Over Investor Claims It Hid Loan Losses 2008 06 30 IndyMac to Trim Operations, Not Shut Down, Perry Says 2008 07 01 IndyMac Chief Financial Officer A. Scott Keys Resigns 2008 07 07…

News

News Round-Up: 9 Jul 2008

Edward Harrison Jul 9, 2008

Real economyWhy GM Should Embrace Bankruptcy - Market MoversUK not OK - FT($)Real worldMuch of U.S. West Coast Under `Explosive' Fire Threat - BloombergAnglican Vote on Female Bishops Sparks Threat of Separation - BloombergAmerican Obesity…

Markets

The dow in euros

Edward Harrison Jul 9, 2008

Zeitenwende, a German-language blog from Switzerland I subscribe to made a very good point this past holiday weekend after the Dow reached bear territory. U.S. investors had lost 20% on the Dow, but European investors would have lost much…

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