At this conference, we will assess whether high frequency trading (HFT) has been good or bad for the securities markets and investors.

From the perspective of the corporate profit and loss statement, a trading loss is one expense item in the context of all revenues and expenses. So $2 billion should be compared to the bank's $26.7 billion in pretax profits for 2011, suggesting a reduction of something less than 10 percent in annual profit.

Do we love business – or hate it?

On the heel of the recent JP Morgan fiasco, American Enterprise Economist John Makin makes the case for how Dodd-Frank is an insufficient guarantor of financial stability.

The European Union (EU) has announced plans to levy a tax on airline emissions for all planes landing and taking off from EU airports. This tax would be calculated not only based on mileage flown in EU airspace but also for the entire length of the flight (thus, Chinese and Japanese airlines would be taxed for an entire journey from Beijing or Tokyo).

The $2 billion loss at JPMorgan Chase (JPM) has reopened debate on the Volcker rule. The proponents of the rule have seized on the story as proof that the Volcker rule is necessary and should be quickly put into effect by regulation. In reality, however, if the facts are as thus far reported, what happened at JPMorgan is proof that the Volcker rule is unworkable and should be repealed. 

American Enterprise Institute economist Peter Wallison explains why the recent JP Morgan losses are proof that the Volcker Rule is unworkable and should be abandoned.

At the NATO summit in Chicago, the much hoped-for deal between the United States and Pakistan to reopen NATO supply routes through Pakistan did not materialize. The experience of the closure and the negotiations has laid bare the changed relationship between the U.S. and Pakistan.