A lawyer representing more than 70 former clients of Bernie Madoff wants to force the Ponzi schemer into bankruptcy. Meanwhile, federal marshals have seized his $9 million Palm Beach home and a $2 million yacht.

Bernie Madoff's lawyer, Ira Lee Sorkin, signaled to a judge today that his client would plead guilty to charges, which would carry a life sentence, of running a $50 billion Ponzi scheme.