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September 15, 2013 AT 11:16 AM
Wall Street banks, including JPMorgan, have engaged in speculative trading and stockpiled U.S. renewable fuel credits turning a federal environmental program into a profit stream, The New York Times reported. A JPMorgan trader pressed the bank to buy all the Renewable Identification Numbers it could, Prices for the credits spiked by as much as 20-fold between January and mid-summer....