News concerning for-profit higher education dominated headlines again this week. An April 28, 2011 article on Bloomberg.com reports rules intended to regulate for-profit schools were allegedly leaked to the press. A probe by the U.S. Education Department's Office of the Inspector General mounted in response to the alleged leak "will focus on whether short-sellers, who look to profit when stock prices fall, found out about the draft regulations before they were publicly announced."

Though the probe won't affect the recent legislation on the so-called "gainful employment" rule, it will have serious repercussions for those involved in insider trading.

The Daily Caller also picks up on the story, reporting that the "investigation could reveal the extent to which the investors, who are hoping to profit when the for-profit firms' stock goes down, influenced the process or received advance knowledge about regulatory actions by the department."

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What this more thoughtful legislation entails remains to be seen, but the "gainful employment" rule has generated a surprisingly large amount of controversy. Whether allegations of insider trading slow down the legislative process remains anyone's guess.