Wall Street Roundup: Bad news in good numbers. Betting on Madoff
Bad news in good numbers. Although the unemployment rate dropped to 9.7% in May, the fall was largely a result of temporary census jobs, and new long-term jobs rose less than expected, the Labor Department reported.
Madoff money. Some financial companies have taken to betting on future payments from Bernard Madoff's estate by offering structured lump-sum payments to Madoff's victims, the Wall Street Journal reports.
A bank for the rich. Among the very few new banks started in recent years is one for the super-rich that was founded by a who's who of former Wall Street executives, Fortune reports.
-- Nathaniel Popper in New York