Bernie Madoff, age 71, sentenced to 150 years in jail

Bernie Madoff gets 150 years in the slammer for orchestrating the biggest Ponzi scheme in history and his wife, Ruth, has to sell her beach houses, jewelry and furs. Tear. (NYT)

Apple CEO Steve Jobs is back to work after a scary liver transplant two months ago. (Forbes)

Ivy League endowment funds have shown steep declines, like those at Harvard and Yale, because of risky investments in hedge funds, while universities with endowments less than $1 billion have fared better. (WSJ)

California Governor Arnold Schwartzenegger is at odds with the State Senate on how to manage their $24 billion debt. The state may have to issue IOUs to its creditors, but do it with dignity to show they’re no economic girly men. (FT)

Governor David Paterson gets his wish as a judge orders all 62 New York state senators into the chambers to break the month-long political stalemate. Republicans, of course, are already appealing the decision. (NYT)