• New jobless claims are down, but a record number of people are collecting unemployment, which won't be good news for the markets today. [BN, WSJ]
• Bank of America is hoping to pay back the $45 billion in bailout money by the end of the year. And it looks like they might actually be able to do it. [DB, WSJ]
• Speaking of taxpayer money, GMAC is getting $7 billion of it. [WSJ]
• Hedge funds are back: They raked in $15.4 billion in April. [BN]
• The Justice Dep't is looking into shady behavior at Lehman circa '07. [WSJ]
• Britain's Serious Fraud Office is building a "warning system to help it spot hedge fund fraud." But only serious hedge fund fraud, obviously. [Reuters]