But I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if you do prosecute, if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy. And I think that is a function of the fact that some of these institutions have become too large.

Beginning in just eight years, we could see permanent climate conditions across the North American Southwest that are comparable to the worst megadrought in 1,000 years.

The latest research from the Lamont-Doherty Earth Observatory at Columbia University published in December 2012 has some truly astounding news. The megadroughts referred to in the paper published in Nature Climate Change happened around about 900 to 1300 AD and are so extreme that they have no modern counterpart for comparison (these megadroughts will be referred to in the following as the “12th century megadrought”). The research was funded by the National Oceanic and Atmospheric Administration (NOAA).

Nearly one in five of the world’s estimated 10,000 species of lizards, snakes, turtles, crocodiles and other reptiles are threatened with extinction, according to a study conducted by 200 experts.

But the risk of extinction was found to be unevenly spread throughout the extremely diverse group of animals. According to the paper, an alarming 50% of all freshwater turtles are close to extinction, possibly because they are traded on international markets.

Conservative billionaires used a secretive funding route to channel nearly $120m (£77m) to more than 100 groups casting doubt about the science behind climate change, the Guardian has learned.

The funds, doled out between 2002 and 2010, helped build a vast network of thinktanks and activist groups working to a single purpose: to redefine climate change from neutral scientific fact to a highly polarising “wedge issue” for hardcore conservatives.

Where Libor is set each day affects what families pay on their mortgages, the interest on savings accounts and returns on corporate bonds. Now, banks are facing a reckoning, as prosecutors make arrests, regulators impose fines and lawyers around the world file lawsuits claiming the manipulation pushed homeowners into poverty and deprived brokerage firms of profits.

“We will never know the amounts of money involved, but it has to be the biggest financial fraud of all time,” says Adrian Blundell-Wignall, a special adviser to the secretary-general of the Organization for Economic Cooperation and Development in Paris. “Libor is the basis for calculating practically every derivative known to man.”