This indicates to us that many traders have a bankable hunch that Beazer calls are worth scooping up at the reduced premium offered by the current degree of scandal, and that volatility plays and bull interest are still alive and well in the early '08 series.

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Most benefits firms continue to see their costs rise 8 to 10 percent a year and shift more onto their workers, particularly in the bad economy where companies have reduced the number of their employees and therefore have fewer premium dollars to spread risk and pay claims.

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According to a 2002 study by two economists at Indiana University, enforcing insider-trading laws reduced the cost of equity in the countries they looked at because investors did not demand a premium for the risk of trading with a crooked counterparty.

ECONOMIST: The fight against crooked trading gathers pace