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]