Strikingly, he has not said that these transactions, carried out for JPMorgan's own benefit (or disbenefit, as it turns out) through its chief investment office, were unauthorised or down to a putative "rogue trader".

BBC: JPMorgan��s loss may cost all banks

And without parallel measures to cover aviation's non-CO2 emissions at least twice as damaging as its CO2 emissions alone its purchase of the right to emit a tonne of CO2 from a ground source will be a net disbenefit to the environment.

ECONOMIST: On nuclear weapons, Papua New Guinea, skyscrapers, aircraft emissions, Guantánamo, football, muslim futures | The