After spending just one night in jail, Bernie Madoff wants out. His lawyers will appeal the decision to revoke his bail while he waits to be sentenced for running a Ponzi scheme.

Bernie Madoff would like to return home to his Upper East Side penthouse. The Metropolitan Correctional Center? It's not such a fun place to be, apparently! Madoff's lawyer, Ira Sorkin, filed an appeal today and is now asking that Madoff be permitted to return to house arrest at his duplex on East 64th Street. An appeals court will likely deliver a decision later today. In the meantime, though, you're welcome to refer to him as federal inmate No. 61727-054. [NYDN]

Bernie Madoff's in jail! The stock market is up! Enjoy the temporary dose of relief, because the recession is just getting bleaker. Even fun is now bankrupt:

Bernie Madoff was locked up in a jail cell last night. But David Patrick Columbia has a photo of Bernie the evening before, when he was sitting in his penthouse and facing the prospect that this would be his last night in his own bed. Note the lack of the going-away party. It was just Bernie in his easy chair, watching TV. We'll go ahead and assume his first night behind bars wasn't quite as leisurely. [NYSD]

After pleading guilty to his $50 billion fraud, Ponzi schemer Bernie Madoff is headed for jail. Which jail? Probably the federal prison in Otisville, N.Y., where he'll have the chance to meet new friends!

When someone sees another person break the rules and get away with it, does that inspire them to commit wrongdoing themselves? When people like Allen Stanford or Bernie Madoff are arrested, does that encourage people to play nice? These were the sorts of questions that a group of researchers at the University of North Carolina and Duke set out to answer.

We think you'll agree that this recap of Bernie Madoff's appearance in court today—which is narrated by a Brit and was broadcast on Al-Jazeera—is far more entertaining than the one you'll be seeing on American cable news networks this evening. [Al-Jazeera]

Applause broke out in a New York courtroom — and across the nation — as U.S. District Judge Denny Chin ordered Bernie Madoff, who has confessed to a $50 billion Ponzi scheme, to jail. Immediately.

Bernie Madoff, the most incredibly humongous scammer that America has ever seen, has just pleaded guilty to all charges against him, as expected.

With Bernie now behind bars, perhaps you were thinking this would be a good time to issue your sympathies to Ruth Madoff, who will be sleeping alone tonight in the couple's Upper East Side penthouse for the first time in months? You bet it is! To make your job easier, we created a pre-printed postcard for you. All you have to do is print it out, slap on a stamp, and you're good to go. You're welcome!

Bernie is going to jail! The judge just ruled that Bernie Madoff will not be able to go home pending sentencing, a ruling that generated a round of applause in the courtroom. And guess what? It seems Madoff isn't going to be very popular when he heads over to the Metropolitan Correctional Center in a few minutes. Apparently, Madoff "may have to fight off prison inmates who want to squeeze him for money or blame him for the Wall Street crash." [Bloomberg]

As expected, Bernie Madoff just pleaded guilty to all the charges against him. He also says he's really, really sorry about everything that's happened, if that makes you feel any better. [NYT]

• Bernie Madoff will appear in court this morning to plead guilty to 11 counts. Then it wil be up to the judge to decide if he gets locked up immediately or is allowed him to remain free on bail pending sentencing. [DB]
• Meanwhile, the investigation into Madoff's Ponzi scheme is now focusing on the accounting firms that may have helped him carry out the scheme. [NYT]
• Base salaries on Wall Street may double as bonuses drop. [BN]
• Andrew Cuomo says Merrill Lynch misled Congress over the timing of its plans to award billions of dollars in bonuses last December. [NYT, WSJ]
• BofA is putting a private bank it inherited from Merrill up for sale. [Reuters]
• Texas billionaire Allen Stanford took the Fifth yesterday. [AP]
• Carl Icahn has abandoned his bid to take over Lionsgate. [BN]
• GE has lost its triple-A credit rating from Standard and Poor's. [DB]
• Foreclosure filings in the U.S. jumped 30% in February. [BN]

Is Ruth Madoff facing indictment? What about the Madoff's two sons? And what will happen to Walter Noel and Bob Jaffe? Lucinda Sparks has some juicy detail over at The Daily Beast, including the unsurprising revelation that Bernie Madoff hasn't been the easiest guy for prosecutors to deal with. Says one source: "He is not reliable. He’s jerking everyone around. Every day he changes his tune about where the money went and where it is. He's trying to protect his family." [TDB]

Considering he's been confined to his apartment for the past couple of months, it's a bit of a mystery how Bernie Madoff managed to appear in court yesterday sporting such a healthy glow. Makeup? Self-tanner? Who knows, but it's nice to see that just because he's facing 150 years behind bars doesn't mean he's prepared to let himself go completely. [via Lettuce]

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.

Bernie Madoff is expected to plead guilty to 11 criminal charges on Thursday, reports the Journal: "At a hearing Tuesday, Ira Lee Sorkin, Mr. Madoff's lawyer, said his client expects to plead guilty to a criminal information, or charging document that outlines the allegations against him, filed by the government with the court on Tuesday. 'Do you expect Mr. Madoff to plead guilty on Thursday?' asked U.S. District Judge Denny Chin in Manhattan. 'That's a reasonable expectation,' Mr. Sorkin said."

In news that will come as a surprise to precisely no one, it appears the Palm Beach Country Club has taken the final step and officially expelled Bernie Madoff from the club. A tipster tells us that late last week, Bernie's golf handicap at the PBCC, which had been posted to the United States Golf Association website, suddenly vanished. Unfortunately, we were unable to confirm the latest disgrace to a man who couldn't even play golf if he wanted to: A woman who answered the club's phone said no one would be prepared to comment on the matter. But all is not lost for the Madoff clan!

J. Ezra Merkin, the disgraced money manager who steered more than $2 billion to Bernie Madoff, has a new lawsuit to contend with. NYU filed suit against Merkin last month, accusing him of losing $24 million of the unversity's endowment due to his "deliberate ignorance." Now a pension plan, which says it lost $4 million investing in Merkin's various funds, is taking action, too. The full complaint appears below.

It's increasingly likely Bernie Madoff will plead guilty when he appears in court next Thursday. One of the disgraced financier's attorneys, Daniel Horwitz, said today that Madoff will waive a grand jury indictment when new charges are filed against him by prosecutors next week. The Journal explains: