Disgraced lawyer Marc Dreier stands accused of bilking investors out of $400 million and could end up spending 30 years in prison if he's eventually convicted of conspiracy, securities fraud and wire fraud. But he isn't sitting behind bars for the time being. Last week a federal judge allowed Dreier to return home on $10 million bond, provided he hire round-the-clock security to keep tabs on him. So where did he go home to? Permit us to show you around! We found a Prudential Douglas Elliman video tour of the One Beacon Court apartment from 2007, which was filmed shortly before Dreier paid $5.425 million for the 2,900-square-foot pad (with massive terrace) on the building's 34th floor. Dreier has redecorated a bit since then—according to court documents, he has this Robert Wilson video installation featuring Salma Hayek hanging on the wall, for example—but you'll still be able to see it's a step up from Rikers Island.

You know what's really great about being wealthy and white? When you do something very bad, a judge will still probably allow you to go home to your comfy bed! Judge Jed Rakoff ruled today that Marc Dreier, the lawyer accused of bilking clients out of $400 million, can remain confined to his home on a $10 million personal recognizance bond. Dreier will have to pay to have armed security guards with him at all times, and they'll be entitled to use "reasonable force" if he tries to flee. And if Dreier gets bored sitting at home, he'll always be able to have nice, long chats with Bernie Madoff. [AP, WSJ]

• More on John Thain's ignominious departure from BofA. [WSJ, BN, NYT]
• Mary Schapiro was approved by the Senate to head the SEC. [DB]
• Citi is remaking its board and is ousting Ken Derr and Franklin Thomas. [FT]
• Some investment bankers are keeping busy: Pfizer is in talks to acquire Wyeth in a deal that could be valued at more than $60 billion. [WSJ, BN]
• Wesley Edens' Fortress is returning cash to investors. [WSJ]
• Marc Dreier will need to post a $20 million bond to walk out of prison. [NYT]
• Job cuts in UBS's investment banking division come next month. [AP]
• Rumor has it additional layoffs at Goldman are coming, too. [Dealbreaker]

What Bernie Madoff's $50 billion Ponzi scheme and other upper-class scandals of the season tell us: Staying rich is not as easy as it looks. Sometimes it requires incredibly dumb and desperate acts.

• The list of companies, charities and individuals who lost massive sums in connection with Bernie Madoff continues to grow: Mort Zuckerman, Elie Wiesel, Sen. Frank Lautenberg and a charity tied to Steven Spielberg are just a few of the latest victims. [WSJ, NYT]
• Many of Madoff's victims were located in Palm Beach, where the mood is especially grim as wealthy retirees account for their losses. [NYT, WSJ]
• The Madoff saga isn't the only outrageous scheme to have been revealed in recent days, of course. The Times' report over the weekend on how Marc Dreier duped the likes of Sheldon Solow and the bank Perella Weinberg. [NYT]

• The last-minute rejection of the auto bailout yesterday has pretty much guaranteed that this will be a miserable day on Wall Street. [NYT, WSJ]
• Marc Dreier, the lawyer accused of stealing hundreds of millions from investors, was denied bail yesterday. The Post suggests "suicide hotlines in Greenwich could be lit up today as investors begin to realize how much they've lost in the rip-off scheme." [NYT, NYP]
• U.S. retail sales dropped 1.8 percent last month. [WSJ]
• Goldman Sachs has set aside $12 billion for bonuses, down from $20 billion last year. [Reuters]
• Bonuses on Wall Street are expected to be down 50 percent this year. [DB]
• Good news for ex-Merrill CEO Stan O'Neal: He may have a new job. [FIN]