By Lou Carlozo

(Reuters) – Amid a burst housing bubble, worldwide jitters over government debt and the high-profile recklessness of some financial movers and shakers, markets in the U.S. and abroad have taken a beating.

Risk today, in almost any form, is seen as the enemy by a growing number of investors.

NEW YORK (Reuters) – The blow up of now bankrupt-MF Global proves that vetting a financial firm isn’t ever simple. Companies use accounting tricks and other machinations to hide problems until the last possible moment.

While no one expects individual investors to become forensic accountants, there are usually warning signs before a disaster strikes — you just have to know where to look.

By Lou Carlozo

(Reuters) – Open enrollment for benefits ends today at the University of Illinois at Chicago, and Jason Rothstein, 40, has just finished all the needed paperwork. Once again, his health insurance premiums will go up – about 5 to 6 percent in 2012. And, as an employee with earnings in the $61,000 to $76,000 range, he’ll pay more for his insurance than colleagues at a lower salary level.

Rothstein, who is single, says that UIC divides its employees into five income divisions for benefits purposes. Even though he’s in the second-highest quintile, you won’t hear him complain about paying roughly $120 a year more for his Blue Cross-Blue Shield HMO plan than employees at the bottom of the ladder.