As expected by everyone, Bernie Madoff pled guilty to eleven (count them!) felony charges in court this morning. The eleven charges include securities fraud, mail fraud, wire fraud, investment adviser fraud, three counts of money laundering, false statements, perjury, false filings with the SEC and theft from an employee benefit plan. A twelfth charge for public douchebaggery was dropped, since there is not actually a law against that. Madoff’s guilty plea does not, however, come as part of any plea bargain so he isn’t looking at a reduced sentence for cooperating, which is a great comfort to all of his investors who lost their life savings and still haven’t gotten them back.

The reason Madoff did not get any kind of deal was his refusal to plead guilty to a conspiracy charge, which kind of requires you to name those with whom you are conspiring (wildly speculating: his wife and sons). As it stands, Madoff is facing up to 150 years in prison, which he will serve come hell or high water even if his bones have to be propped up in a cell for the remaining 148 years.

For now, Madoff must wait until later today to learn if he will await sentencing in prison, for justice, or back in his “wife’s” penthouse apartment.

UPDATE: Bail revoked, he has to sit in the pokey until sentencing in June.