Bernie Madoff is going from "lifestyles of the rich & famous" to a bleak jail cell for the rest of his life. In order to avoid the mental suffering, physical abuse, and to protect his family, I believe he will commit suicide. He is not one to "follow the rules".
IMO what he did was a crime against the state akin to treason due to to the effect it has had on the financial crisis, and life in prison is a merciful sentence. Public execution would have been more appropiate in this case. Again IMO.