In less than a year, a dozen Wall Street professionals have been charged with insider-trading violations that permitted them or their firms to profit from advance knowledge of corporate deals.

It is also worth noting that certain firms will profit from the downturn.

A firm could profit by buying a stock before its own recommendation drove up the price.

The case involves charges that the firm profited from trading in takeover stocks by using illegal inside information supplied by one of its most senior executives, Martin A. Siegel.

As long as stock prices were volatile, which they were, the firm would profit, he said.

With firms of medium size profits the saving is neutralised by the increased cost of National Insurance contributions.

The firm has profited hugely from the bull market of the 1990's, and particularly from the boom in company mergers and acquisitions, its specialty.

The firm can profit even if the limited partners do not.

Such a firm would profit by selling the various bonds in the portfolio for more than it paid.

Other firms are profiting too.