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modest increase in channel capacity. On the other hand, the upper bound of the channel capacity in a MIMO environment is given by CMIMO = min(n, m) BW log2(1 + SNR) where n is the number transmitter antennas and m is the number of receiver antennas. The channel capacity can now be increased in a linear fashion with the minimum of the transmitter and receiver antennas. Although this relation provides for an upper bound of the capacity, in practice, numbers very close to the upper bound are achievable. Many analog techniques have been utilized in the past to effectively combat multipath fading in a wireless system. These include simple antenna diversity selection or more sophisticated analog maximum-ratio-combining techniques using phase shifters or programmable delay elements. However, a true MIMO system (one where each receiver and transmitter antenna is connected to the baseband processor through a dedicated analog chain) provides for many advantages (Fig. 7.5). For example, phase shifting, combining, and beam forming can be performed easily at digital baseband on a persubcarrier basis in OFDM systems. Further, such a true MIMO system allows for spatial multiplexing, thereby increasing the channel capacity dramatically, as discussed earlier. On the other hand, such true MIMO systems consume more power and area than analog-only multiantenna solutions. The draft 802.11n standard combines the capabilities offered by OFDM coding along with those offered by multiple antennas. As a result, a MIMO OFDM system is constructed which offers diversity gain as well as

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aimed at maintaining the transparency and integrity of securities markets The assumption made at the time, which was generally valid, was that where fraud is pervasive, or at least suspected, and investors can never be sure what they are getting, capital markets will suffer Over the years, the government has updated the 1934 securities laws, but the process remains essentially unchanged Whereas before 1934, publicly traded companies had quite wide latitude in financial reporting and little supervision or penalties for unscrupulous activities, after the formation of the SEC and the enacting of the 1934 securities laws, publicly traded companies have been obligated to file periodic reports to the SEC that state various audited measures of financial performance The 10K and 10Q reports that we see online today are the electronic editions of a practice that has been in place for 70 years.

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The securities laws of the Depression also gave new prominence to the field known as public accounting The management of a public company is responsible for creating financial statements, and independent Certified Public Accountants must audit those financials and provide an opinion as to whether the financials are presented fairly in all material respects, and that they represent the financial condition of the company and comply with Generally Accepted Accounting Principles (GAAP) GAAP is like the Bible of the accounting world If the auditor believes the financial statements are not accurate, or if they consider the methods by which the statements were prepared to be subject to weaknesses, then the auditor is expected to state that opinion in their opinion letter The SEC reporting and audit system has worked well, in general, since its inception, although there have been some spectacular breakdowns in its proper functioning over the years.

US dollar, which supported the price of oil (denominated in US dollars) and encouraged Americans to buy relatively cheap imports from Asia Between 2000 and 2007, US Treasuries owned by foreign investors rose from $1 trillion to $24 trillion China alone increased its holdings of US Treasuries from $60 billion in 2000 to $478 billion in 20075 In other words, there was an implicit agreement on a global recycling process By consuming massive amounts of imported goods and oil, the US ran huge trade de cits, which resulted in large trade surpluses with oil producers and Asian exporters These two groups of countries then recycled most of these surpluses back to the United States by investing in US Treasury securities This global recycling process kept the rates on long-term Treasury bonds approximately 1 percent lower than they otherwise would have been.

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