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.

Monetary System

Is the Fed going to raise rates?

Edward Harrison Jun 13, 2008

No! The Fed is not crazy. Market participants are forgetting that the U.S. economy is still not out of the woods. Moreover, many financial institutions are drowning in writedowns. None of this should be expected to change anytime soon.…

Economy

Jim Jubak joins the inflation made in Asia crowd

Edward Harrison Jun 13, 2008

Yesterday, I posted a blog entry detailing how Stephen Roach sees inflation as a concern, not because of food and oil, but because of Asian manufacturers. I find his argument compelling. Don't get me wrong, I think deflation is the…

Political Economy

Argentina faces potential collapse

Edward Harrison Jun 12, 2008

Argentina is on the brink again. Earlier today, I wrote about doubts regarding the country's official inflation statistics. The official statistics showed 9.1% inflation when many believe inflation is running 25% and more. Now, it…

Economy

KeyCorp craters after dividend cut

Edward Harrison Jun 12, 2008

This morning, I posted a blog entry regarding KeyCorp's wise decision to cut its dividend and to raise capital. They paid the price in the market today, sinking to a 17-year low below $12.00 a share and down 24% on the day. Shares of…

Economy

What’s happening at Fifth Third?

Edward Harrison Jun 12, 2008

Fifth Third, the Cincinnati-based regional lender, has been tanking of late. Today, it was down another 4% to close at a 12-year low. "Shares of Fifth Third Bancorp touched a 12-year low Thursday as capital concerns continued to swirl…

Economy

Stephen Roach: Asia is source of stagflation

Edward Harrison Jun 12, 2008

Stephen Roach is one of the best financial commentators in the business. In the aftermath of the bubble in the late 1990s, as Chief Economist of Morgan Stanley, he was quite bearish and warned of the downside risks for the global economy.…

Markets

Crude oil interactive map

Edward Harrison Jun 12, 2008

The website immobilienblasen has a good entry today that alerted me to an interactive map about oil-related issues on the FT website. It's a great resource.

Economy

KeyCorp to raise $1.5 billion, cut dividend 50%

Edward Harrison Jun 12, 2008

The latest move by a regional bank comes from KeyCorp, based in Cleveland. In order to preserve capital ahead of the impending troubles headed for the regionals, KeyCorp has taken the prudent step of both raising capital and cutting its…

Economy

We’re not the only ones who don’t believe the statistics

Edward Harrison Jun 12, 2008

Argentina too has a government statistics problem. Their new inflation index is seen as unbelievable.(see FT article here.)

Economy

MBIA pulls the plug on its insurance arm

Edward Harrison Jun 12, 2008

In the wake of downgrades from AAA to AA status, MBIA has pulled support for its bond insurance subsidiary. In a letter to shareholders, CEO Jay Brown said:"We confirmed to the market today that we will not be making capital contributions…

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