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

RBC clients file lawsuit

Edward Harrison
Royal Bank of Canada joins the list of financial institutions sued by clients over the large losses associated with the credit crisis.The Globe & Mail reports:Royal Bank of Canada has been hit with a proposed class action lawsuit in New…
Economy

UBS legal dispute with Paramax

Edward Harrison
This is a story I caught over at Michael Panzner's site this morning. Apparently Paramax, a hedge fund, entered into a swap arrangement with UBS based on the value of a subprime CDO back in February 2007. Under the terms of the swap, the…
Economy

More warnings on regional banks

Edward Harrison
The President of the Boston Fed, Eric Rosengren, has in effect said that small and regional banks are at risk in the next wave of writedowns for U.S. financial institutions. He sites construction loan exposure in particular as a place to…
Markets

Irish property dam about to burst

Edward Harrison
Along with the residential housing bust in Ireland, a commercial real estate (CRE) bust is definitely on the table. According to the newspaper the Irish Independent up to 10 billion euros of writedowns are possible for the Irish property…
News

Spain: Week’s News Round-Up

Edward Harrison
This is a Spanish-language only News Round-Up on the economic situation in Spain from El Pais.Zapatero pisa el acelerador por la crisis¿Crisis? ¿Qué crisis? "Escenario de dificultad", "periodo de ajuste fuerte" o "desaceleración profunda de…
Economy

Chart of the day: Real GDP growth

Edward Harrison
I don't trust the U.S. government's inflation number for measuring real GDP. The annual rate of inflation in this measurement is only 2.2%, while the Consumer Price Index (CPI) is running at a 4.0% clip. That's as large a differential as…
Economy

The revised GDP number: pure fiction

Edward Harrison
The GDP number was revised upwards from 0.6% growth to 0.9% growth. However, what is most interesting is the GDP implicit price deflator. This is the index number the BEA uses to get from nominal GDP to real GDP, the inflation-adjusted…

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