But once intercepted traffic is presented as evidence, it is sure to reignite the debate over civil liberties and internet wiretapping.

ECONOMIST: Internet wiretapping

It is the surprise factor - the shock evinced by Mr Dimon - that will reignite the debate about whether regulators need to take more decisive action to curb the complexity of investment banks, to better prevent this kind of accident.

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The effort to reignite the republican debate may have little immediate impact politically, however, not least because Mr. Turnbull is a rare supporter within the ranks of the Liberal Nationals, which lead pre-election opinion polls by a wide margin.

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All this will reignite a debate about whether the mania for social-networking sites is inflating another internet bubble.

ECONOMIST: Leaders