says that currently, penalties aren't strict enough. this is a serious course of misconduct, and that at present, the sanction is simply akin to asking someone to put the cookies back in the cookie jar. in tonight's "money matters," the biggest insider stock trading case ever. gumbel: investment banker dennis levine collected $12.5 million in illegal profits. he did it by getting advance knowledge of 54 pending takeovers. then from a phone booth, he would call an accomplice in the bahamas, who would buy stocks in the names of two dummy corporations, which levine had set up in panama. aug: the levine case was the first time the sec's been able to nail down insider trading by one of wall street's big dealmakers -- somebody with a $1 million-a-year salary, which, apparently, wasn't enough. brady: insider trading could become wall street's watergate. cassidy: plea bargaining is now under way with dennis levine. authorities might be able to develop a list of new suspects. carberry: we started the investigation, and once his lawyer advised him his interest to cooperate, he would give you the information.