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Wall Street Roundup: Bernard Madoff's Wall Street accomplice? Central banker to the rich.

December 3, 2010 |  9:09 am

Gold: Trading now at $1,407 per ounce, up 1.2% from Thursday. Dow Jones industrial average: Trading now at 11,332.63, down 0.3% from Thursday.

Breaking the rally. An unexpectedly bad jobs report has broken the market's upward climb of the last few days, but investors don't appear to be too spooked.

Madoff's Wall Street accomplice? Ponzi schemer Bernard Madoff's chosen bank, JPMorgan Chase, Getprev appears to have suspected that his returns were "too good to be true," but nevertheless continued to work with him, documents show. On Thursday, the trustee in the Madoff case sued JPMorgan.

Insider trading clues. It appears that a number of hedge funds under scrutiny for insider trading bought lots of shares of a number of healthcare-related stocks at key moments, according to the Wall Street Journal.

Central banker to the rich. Data released by the Federal Reserve earlier this week indicate that some of the emergency banking facilities set up during the financial crisis were used not by banks but by hedge funds and wealthy investors.

Staying alive. Some leading banks have suggested that they would have survived the financial crisis even without government bailouts. The new data from the Fed suggests that is probably not true.

-- Nathaniel Popper in New York

Photo: Bernard Madoff. Credit: Don Emmert / Getty Images

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