Checkout www.ycombinator.com, founded by the hackers who designed technology acquired by Yahoo as the foundation of Yahoo Stores, for the best open source startup resources anywhere.

Their Start Up library is a great place to start.
Find it here: http://ycombinator.com/lib.html

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Y-Combinator Investor Experience
<a href="http://www.youtube.com/v/VHR7YbIIrYU&rel=0" target="_blank">http://www.youtube.com/v/VHR7YbIIrYU&rel=0</a>
Youtube information-attribution:
 Why Y-Combinator process is extremely efficient for investors.
Category:  Education
Tags:
MJ  Investor  Startup  y-Combinator  demo  days 

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Regina Spektor - Fidelity [OFFICIAL video]
<a href="http://www.youtube.com/v/wigqKfLWjvM&rel=0" target="_blank">http://www.youtube.com/v/wigqKfLWjvM&rel=0</a>

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Youtube information-attribution:
http://www.youtube.com/user/ReginaSpektor
 Official music video.
Directed by Marc Webb
Category:  Music
Tags:
regina  spektor  fidelity  music  video  Marc  Webb 

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UNITED STATES AVERAGE ANNUAL WIND POWER from the National Renewable Energy Laboratory's ("NREL"), specifically, its Renewable Resource Data Center.

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USA Average Annual Wind Power
USA Average Winter Wind Power
USA Average Spring Wind Power
USA Average Summer Wind Power
USA Average Fall Wind Power

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Wind Corridors: Percent of the land area estimated to have a  Class 4 or higher wind power in the contiguous United States;
Map 2-9 Certainty rating of the wind resource estimates for areas with Class 4 or higher wind power in the contiguous United States
Wind Corridors: Percent of the land area estimated to have a  Class 3 or higher wind power in the contiguous United States;
Map 2-8 Certainty rating of the wind resource estimates for areas with Class 3 or higher wind power in the contiguous United States;

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MAP DESCRIPTION: UNITED STATES AVERAGE ANNUAL WIND POWER
The first version of this wind resource map, published in 1980, was based on a synthesis of 12 regional assessments. The wind resource estimates were up dated in 1985 for many areas of the limited States, using new site data from approximately 300 loca tions. This map includes the updated estimates of the annual average wind resource at well-ex posed locations throughout the United States.

The wind resource is expressed in terms of wind power classes, ranging from class 1 (the lowest) to class 7 (the highest). Each class represents a range of mean wind power density or approximate mean wind speed at specified heights above the ground (see power class legend). Areas designated class 3 or greater are suitable for most wind energy applications, whereas class 2 areas are marginal and class 1 areas are generally not suitable.

Local terrain features may interact with the windfield to cause the wind power to vary as much as ~ 50% to 100% from the assessment value. Thus, there may be local areas of high wind power in regions estimated to have low wind power; conversely, some local areas may have lower wind power than that shown by this assessment. Maps depicting the degree of certainty of these assessment values should be used in combination with this wind resource map.

The analyses of mean wind power apply to terrain features that are well exposed to the wind, such as plains, tablelands, hilltops, ridge crests, and mountain summits. In wooded or urban areas, the assessment values represent large clearings and other locations free of obstructions to the wind.

The physical characteristics of the land-surface form affect the number of wind turbines that can be sited in exposed places. For example, over 90% of the land area in a flat plain may be favorably exposed to the wind, whereas in mountainous terrain only the ridge crests (45% of the land area) may represent exposed places. On this map, where local relief generally exceeds 1000 ft. mountainous areas and prominent ridge crests are outlined in heavy, black lines with tick marks. Within these areas, wind resource estimates are for exposed ridge crests and mountain summits.

LOCATIONS NOT SHOWN ON THIS MAP
Areas not shown on this map but included in the regional assessments are the Virgin Islands and Pacific lowlands. The Pacific Islands estimated to have areas with class 4 and higher wind power include: Midway, Wake, and Johnston Islands, the Northern Marianas, the Marshalls, and (Guam. Class 3 wind resource is estimated for the northern Carolines and American Samoa. Portions of the Virgin Islands are estimated to have Class 3 and 4 wind resource.

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http://www.nrel.gov/rredc/

National Renewable Energy Laboratory
Dynamic Maps, GIS Data, and Analysis Tools Hydrogen Maps

Below are some examples of how Geographic Information Systems (GIS) modeling is used in hydrogen infrastructure, demand, market and resource analyses. The JPG images are samples of the maps available in the following PDFs. Refer to the report for further information. If you have difficulty accessing these maps because of a disability, please contact the NREL Webmaster.

U.S. Hydrogen Infrastructure Demand — Consumer Strategy Map

(JPG 129 KB)
GIS is used to analyze demographic, socio-economic, transportation and policy data that influence hydrogen demand. The demand scenarios were further use to estimate infrastructure needs and usage throughout the country, and to predict transition infrastructure costs.

Reference: Geographically Based Hydrogen Consumer Demand and Infrastructure Analysis: Final Report, Margo Melendez and Anelia Milbrandt (2006) (PDF 6.6 MB).

Proposed Hydrogen Refueling Stations Along Major Interstates Map

(JPG 151 KB)
This project identifies a minimum infrastructure that could support the introduction of hydrogen-fueled vehicles. The objective was to determine the location and number of hydrogen stations nationwide that would make hydrogen fueling available at regular intervals along the most commonly traveled interstate roads, thus making interstate and cross-country travel possible.

Reference: Analysis of the Hydrogen Infrastructure Needed to Enable Commercial Introduction of Hydrogen-Fueled Vehicles, Margo Melendez, Anelia Milbrandt (2005) (PDF 1.0 MB).
Hydrogen Infrastructure Transition Analysis: Milestone Report, Margo Melendez, Anelia Milbrandt (2006) (PDF 990 KB).

Hydrogen Potential from Renewable Energy Resources

(JPG 188 KB)
This study was conducted to estimate the potential for producing hydrogen from key renewable resources (onshore wind, solar photovoltaic, and biomass) by county in the United States. It considers hydrogen production using wind and solar electrolysis as well as gasification and steam methane reforming methods for converting biomass to hydrogen.

Reference: Potential for Hydrogen Production from Key Renewable Resources in the United States, Anelia Milbrandt, Margaret Mann (2007) (PDF 3.3 MB)


Hydrogen Market Analysis

GIS provides support to the HyDS (Hydrogen Deployment System Model), a computer model of U.S. market expansion of hydrogen production from wind and other sources over the next 50 years.

Reference: Modeling the Market Potential of Hydrogen from Wind and Competing Sources, Walter Short, Nate Blair, Donna Heimiller (2005) (PDF 976 KB).

Ronald Reagan's 1987 Stock Market Crash Press Conf. - America is Still Out There

Editor's Note:  Frankly, I know this is around the time he gave his "America is still out there" speech (regarding the 1987 Crash) which I thought was one of RR's finer moments.  I haven't listened completely to these 4 clips, but if it's NOT in them, I will try to find it and post the link here.  In any case, no matter whatever else you may think about RR, he WAS a great communicator.  I attribute it to his experience as a trade unionist.
Editor's News Flash:  I believe I have the right press conference where the "America is still out there" line was given in the last 3 minutes of this clip here BUT the audio cuts out UGGHHHhhhhh ... http://forum.bankingworks.com/index.php?topic=17.msg36#msg36  ...  we'll keep trying!!!  Keep the faith!!!  This message sponsored by www.FaithValues.com ... To be continued ...
<a href="http://www.youtube.com/v/zdngN5gAVRs&rel=0" target="_blank">http://www.youtube.com/v/zdngN5gAVRs&rel=0</a>
Youtube information-attribution:
 News conference, late October 1987. He talks about; Stock market, Middle East, terrorism, the economy, taxes, and every time he moves his arms the camera shutters go crazy. A President could have a lot of fun with that.
Category:  News & Politics
Tags:
president  ronald  reagan  news  conference  terrorism  middle  east  tax  taxes  economy  great  communicator  press  media 

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http://www.paulgraham.com/die.html

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How not to die is a thought provoking piece in title and concept.  Written in two hours by Paul Graham, an expert on micro-finance and micro-entrepreneurship, it observes economic survival in the hardscrabble world of Internet startups.  It may just be the formula we need to rebuild our production base in the Information Age. 

If it had been written on the back of an envelope an economic analogy with the Gettysburg Address would not be out of line. 

Those who would rebuild the production base of the Information Age and who still believe in Yankee Ingenuity applaud Mr. Graham's fighting spirit.

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Editor's Note:  You may ask yourself "How did I get here?"
Our economy got to where it is today (10.09.2008) in the complete opposite way you get to Carnegie Hall.  Neglect.  Neglect.  Neglect.  While fiduciaries and legislators snoozed at the switch, or worse, the "peace dividend" which ought to have been plowed into our production base was vaporized in financial industry machinations and hidden fees while our industrial base was expeditiously dismantled for export. 

Like Japan re-building after WW II, we survivors of WW III (The Cold War) must now look to leaders like W. Edwards Deming and Paul Graham for the formula to rebuild out of Cold War ashes.  Our need for infrastructure leadership is great and there is much to do:

• Build a 21st Century low-impedance electrical power grid calibrated for distribution from point-sources for wind, solar, nuclear, hydrogen, biomass, wave and tidal power.  See, e.g., www.LibertyIsGreen.com, www.WLAB.com The Wind Lab and www.Push.PickensPlan.com;
• Convert the trucking industry to run on Vehicular Natural Gas.  See, e.g., www.Ve-Gas.com;
• Mass Transit;
• Architecture.  See., e.g., www.LandmarkTv.com & www.GoodGrounds.com;
• Innovate.  See, e.g., www.AlgorithmWorks.com, www.HydrogenWorks.com, www.RoboticsWorks.com, www.AiWorks.com, www.GamerWorks.com, www.CombinatoricsWorks.com, www.MathematicsWorks.com, www.MiningWorks.com, www.TextileWorks.com, www.GeneticsWorks.com & www.UniversiTv.com;
• Remember history.  Or be condemned to repeat it. See, e.g., www.AmericanaWorks.com and www.HistoryGrid.com
• Get out into the elements, it's your thING, do what ya wanna do.  See, e.g., www.SportsWorks.com, www.INGworks.com, www.expedition.ingworks.com, www.mountaineer.ingworks.com, www.PedalWorks.com, www.MarinaWorks.com, www.DiverWorks.com;
• The food chain ends where the fuel chain begins: www.ProduceWorks.com, www.FarmerWorks.com, www.SugarWorks.com, www.JatrophaWorks.com, www.CornWorks.com;
• Given the bandwidth and a secure place to stand we can move the world.

Archimedes - www.LongerLever.com.

As to how you got to this page, we think the subject matter is of such critical importance, that from time to time, we may point domains such as www.SurvivorWorks.com and www.StartUpWorks.com directly to this content.

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[/list][/list]

The bust of 2008 is rooted in nonobservance of fiduciary responsibility by a great many of the interlocking corporate, union and public sector boards who do two-fold business with the finance sector through management of pension funds and by putting their own securities, stocks and bonds into the stream of commerce.  So why single out the practice of securities lending from pension funds as a boogie man of the credit collapse?  Because it is the oxygen of short-selling.  The so-called "good" kind of short selling.  Not the "naked" kind.  But why should a pension fund allow its considerable resources to fuel a practice that undermines the value of the very securities in its portfolio?  We know the argument.  It's "healthy" in a free market to weed out the sick, lame and weak companies preyed on by the hedge funds.  But it has been clearly revealed by the credit collapse and ensuing bailout that "free market economics" are nowhere in sight.  Anything but.

The Sarbanes-Oxley the full-employment act for accounting consultants is a joke.  Fiduciary nonobservance approaches the norm where corporate boards interlock and anything goes in a securities industry where fees pyramided on top of fees are the grease for the wheels that move the pyramid around in the shifting sands of an ineffective regulatory environment.

The duty owed by a fiduciary in the eyes of the law is higher than the duty a mother owes her child.  This charges the fiduciaries who select your 401k investment media with a duty to assure that available investment media are devoid of undisclosed risks and fees that are reasonably discoverable to a well-qualified investment professional.  Unfortunately for you and your pension fund, well-qualifed investment professionals tend to be a highly conflicted lot, in the main.  A good, non-conflicted fiduciary, turns out to be hard to find.

To be continued in Part 2

London Interbank Offered Rate
From Wikipedia, the free encyclopedia
  (Redirected from Libor)
Jump to: navigation, search

The London Interbank Offered Rate (or LIBOR, pronounced /ˈlaɪbɔr/) is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the London wholesale money market (or interbank market). LIBOR will be slightly higher than the London Interbank Bid Rate (LIBID), the rate at which banks are prepared to accept deposits.
Contents
[hide]

    * 1 Introduction
    * 2 Scope
    * 3 Technical features
    * 4 LIBOR-based derivatives
          o 4.1 Eurodollar contracts
          o 4.2 Interest Rate Swaps
    * 5 Reliability
    * 6 See also
    * 7 References
    * 8 Further reading
    * 9 External links

[edit] Introduction

During 1984 it became apparent that an increasing number of banks were trading actively in a variety of relatively new market instruments, notably Interest Rate Swaps, Foreign Currency Options and Forward Rate Agreements. Whilst recognizing that such instruments brought more business and greater depth to the London Interbank market, it was felt that future growth could be inhibited unless a measure of uniformity was introduced. In October 1984 the British Bankers' Association working with other parties such as the Bank of England established various working parties, which eventually culminated in the production of the BBAIRS terms - the BBA standard for Interest Swap rates. Part of this standard included the fixing of BBA Interest Settlement rates, the predecessor of BBA LIBOR. From 2 September 1985 the BBAIRS terms became standard market practice.

BBA LIBOR fixings did not commence officially before 1 January 1986, although before that some rates have been fixed for a trial period commencing in December 1984.

It should be noted that member banks are international in scope, with more than sixty nations represented among its two hundred members (as of 2006).

[edit] Scope

LIBOR rates are widely used as a reference rate for financial instruments such as:

    * forward rate agreements
    * short-term interest rate futures contracts
    * interest rate swaps
    * floating rate notes
    * syndicated loans
    * variable rate mortgages
    * currencies, especially the US dollar (see also Eurodollar).

They thus provide the basis for some of the world's most liquid and active interest rate markets.

For the Euro, however, the usual reference rates are the Euribor rates compiled by the European Banking Federation, from a larger bank panel. A Euro LIBOR does exist, but mainly for continuity purposes in swap contracts dating back to pre-EMU times.

[edit] Technical features

LIBOR is published by the British Bankers' Association (BBA) after 11:00 am (and generally around 11:45 am) each day (London time). It is a filtered average of inter-bank deposit rates offered by designated contributor banks, for maturities ranging from overnight to one year. There are 16 such contributor banks and the reported interest is the mean of the eight middle values (the interquartile mean). The shorter rates (i.e., up to six months) are usually quite reliable and tend to precisely reflect market conditions. The actual rate at which banks will lend to one another continues to vary throughout the day.

LIBOR is often used as a rate of reference for Pound Sterling and other currencies, including US dollar, Euro, Japanese Yen, Swiss Franc, Canadian dollar, Australian Dollar, Swedish Krona, Danish Krone and New Zealand dollar[1].

In the 1990s, Yen LIBOR rates were altered by credit problems affecting some of the contributor banks.

For a precise definition of BBA LIBOR, see: The BBA LIBOR fixing & definition.

Six-month LIBOR is used as an index for some US mortgages. In the UK, the three-month LIBOR is used for some mortgages—especially for those with adverse credit history.

[edit] LIBOR-based derivatives

[edit] Eurodollar contracts

The Chicago Mercantile Exchange's Eurodollar contracts are based on three-month US dollar LIBOR rates. They are the world's most heavily traded short term interest rate futures contracts and extend up to 10 years. Shorter maturities trade on the Singapore Exchange in Asian time.

[edit] Interest Rate Swaps

Interest rate swaps based on short LIBOR rates currently trade on the interbank market for maturities up to 50 years. A "five year LIBOR" rate refers to the 5 year swap rate vs 3 or 6 month LIBOR. "LIBOR + x basis points", when talking about a bond, means that the bond's cash flows have to be discounted on the swaps' zero-coupon yield curve shifted by x basis points in order to equal the bon...

Federal funds rate
From Wikipedia, the free encyclopedia

In the United States, the federal funds rate is the interest rate at which private depository institutions (mostly banks) lend balances (federal funds) at the Federal Reserve to other depository institutions, usually overnight.[1] Changing the target rate is one form of open market operations that the Chairman of the Federal Reserve uses to regulate the supply of money in the U.S. economy.[2]
Contents
[hide]

    * 1 Mechanism
    * 2 Applications
    * 3 Comparison with LIBOR
    * 4 Predictions by the market
    * 5 Historical rates
    * 6 Impact of federal funds rate cuts
    * 7 See also
    * 8 References
    * 9 External links

[edit] Mechanism

U.S. banks and thrift institutions are obligated by law to maintain certain levels of reserves, either as non-interest-bearing reserves with the Fed or as vault cash. The level of these reserves is determined by the outstanding assets and liabilities of each depository institution, as well as by the Fed itself, but is typically 10% of the total value of the bank's demand accounts.

For example, assume a particular U.S. depository institution, in the normal course of business, issues a loan. This dispenses money and reduces the bank's reserves. If its reserve level falls below the legally required minimum, it must add to its reserves to remain compliant with Federal Reserve regulations. The bank can borrow the requisite funds from another bank that has a surplus in its account with the Fed. The interest rate that the borrowing bank pays to the lending bank to borrow the funds is negotiated between the two banks, and the weighted average of this rate across all such transactions is the federal funds effective rate.

The nominal rate is a target set by the governors of the Federal Reserve, which they enforce primarily by open market operations. That nominal rate is almost always meant by the media referring to the Federal Reserve "changing interest rates". The actual Fed funds rate generally lies within a range of that target rate, as the Federal Reserve cannot set an exact value through open market operations.

Another way banks can borrow funds to keep up their required reserves is by taking a loan from the Federal Reserve itself at the discount window. These loans are subject to audit by the Fed, and the discount rate is usually higher than the federal funds rate. Confusion between these two kinds of loans often leads to confusion between the federal funds rate and the discount rate. Another difference is that while the Fed cannot set an exact federal funds rate, it can set a specific discount rate.

The federal funds rate target is decided by the governors at Federal Open Market Committee (FOMC) meetings. The FOMC members will either increase, decrease, or leave the rate unchanged depending on the meeting's agenda and the economic conditions of the U.S. It is possible to infer the market expectations of the FOMC decisions at future meetings from the Chicago Board of Trade (CBOT) Fed Funds futures contracts, and these probabilities are widely reported in the financial media.

[edit] Applications

Interbank borrowing is essentially a way for banks to quickly raise capital. For example, a bank may want to finance a major industrial effort but not have the time to wait for deposits or interest (on loan payments) to come in. In such cases the bank will quickly raise this amount from other banks at an interest rate equal to or higher than the Federal funds rate.

Raising the Federal funds rate will dissuade banks from taking out such inter-bank loans, which in turn will make cash that much harder to procure. Conversely, dropping the interest rates will encourage banks to borrow money and therefore invest more freely.[3] Thus this interest rate acts as a regulatory tool to control how freely the US economy, and by consequence - as there exists a certain interdependence - world economy, operates.

By setting a higher discount rate the Federal Bank discourages banks from requisitioning funds from the Federal Bank, yet positions itself as a source of last resort.

[edit] Comparison with LIBOR

Though the London Interbank Offered Rate (LIBOR) and the federal funds rate are concerned with the same action, i.e. interbank loans, they are distinct from one another, as following:

    * The federal funds rate is a target interest rate that is fixed by the FOMC for implementing U.S. monetary policies.
    * The federal funds rate is achieved through open market operations at the Domestic Trading Desk at the Federal Reserve Bank of New York which deals primarily in domestic securities (U.S. Treasury and federal agencies' securities).[4]
    * LIBOR is calculated from prevailing interest rates between highly ...

    This article deals with the Wall Street Journal Prime Rate. Also see Prime rate.

Contents
[hide]

    * 1 Historical data for the Wall Street Journal prime rate
    * 2 Source
    * 3 External links
    * 4 See also

The Wall Street Journal Prime Rate (WSJ Prime Rate) is defined by The Wall Street Journal (WSJ) as "The base rate on corporate loans posted by at least 75% of the nation's 30 largest banks." It is not the 'best' rate offered by banks. It should not be confused with the federal funds rate set by the Federal Reserve, though these two rates often move in tandem. The current rate is 5.00% (as of 2008-04-30).

The print edition of the WSJ is generally the official source of the prime rate. The Wall Street Journal prime rate is considered a trailing economic indicator. Many (if not most) lenders specify this as their source of this index and set their prime rates according to the rates published in the Wall Street Journal. Because most consumer interest rates are based upon the Wall Street Journal Prime Rate, when this rate changes, most consumers can expect to see the interest rates of credit cards, auto loans and other consumer debt change.

The prime rate does not change at regular intervals. It changes only when the nation's "largest banks" decide on the need to raise, or lower, their "base rate." The prime rate may not change for years, but it has also changed several times in a single year.

[edit] Historical data for the Wall Street Journal prime rate
1990-1999
Date of Change    Prime Rate
1991    
2-Jan-91     9.50%
1-Feb-91     9.00-9.50
5-Feb-91     9.00
21-Feb-91    8.75-9.00 (BofA)
24-Apr-91    9.00
1-May-91     8.50
13-Sep-91    8.00
6-Nov-91     7.50
23-Dec-91    6.50
1992    
02-Jul-92    6.00%
1994    
24-Mar-94    6.25%
19-Apr-94    6.75
18-May-94    7.25
16-Aug-94    7.75
15-Nov-94    8.50
1995    
1-Feb-95     9.00%
7-Jul-95     8.75%
20-Dec-95    8.50%
1996    
31-Jan-96    8.25%
1997    
27-Mar-97    8.50%
1998    
30-Sep-98    8.25%
16-Oct-98    8.00%
18-Nov-98    7.75%
1999    
01-Jul-99    8.00%
25-Aug-99    8.25%
17-Nov-99    8.50%
          
2000-pres
Date of Change    Prime Rate
2000    
03-Feb-00     8.75%
22-Mar-00    9.00%
17-May-00    9.50%
2001    
04-Jan-01    9.00%
01-Feb-01    8.50%
21-Mar-01    8.00%
19-Apr-01    7.50%
16-May-01    7.00%
28-Jun-01    6.75%
22-Aug-01    6.50%
18-Sep-01    6.00%
03-Oct-01    5.50%
07-Nov-01    5.00%
12-Dec-01    4.75%
2002    
07-Nov-02    4.25%
2003    
27-Jun-03    4.00%
2004    
01-Jul-04    4.25%
11-Aug-04    4.50%
22-Sep-04    4.75%
10-Nov-04    5.00%
14-Dec-04    5.25%
2005    
02-Feb-05    5.50%
22-Mar-05    5.75%
03-May-05    6.00%
30-Jun-05    6.25%
09-Aug-05    6.50%
20-Sep-05    6.75%
01-Nov-05    7.00%
13-Dec-05    7.25%
2006    
31-Jan-06    7.50%
28-Mar-06    7.75%
10-May-06    8.00%
29-Jun-06    8.25%
2007    
18-Sept-07    7.75%
31-Oct-07    7.50%
11-Dec-07    7.25%
2008    
22-Jan-08    6.50%
30-Jan-08    6.00%
18-Mar-08    5.25%
30-Apr-08    5.00%

[edit] Source

    * Various editions of the Wall Street Journal

[edit] External links

    * International Prime Rates published by The Wall Street Journal Online
    * HSH Associates, Financial Publishers

[edit] See also

    * Wall Street Journal
    * Prime rate
    * Federal Reserve

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This the text of this article is taken in it's entirety from the Wikipedia article The London Interbank Offered Rate ("LIBOR") as of 10.02.2008 and is subject to the GNU License.