Smoking Gun: Millionaire Kerik A Former Deadbeat

[kskiska]

Homeland Security nominee was once bankrupt NYPD cop

DECEMBER 7--While a recent stock windfall has left Bernard Kerik sitting on $6 million, President Bush's nominee to head the Homeland Security department hasn't always been so flush. In fact, Kerik was once a deadbeat who declared bankruptcy when he couldn't handle his credit card bills, loan repayments, or Sears and J.C. Penney tabs. Kerik filed for Chapter 7 protection in October 1987, when he was a 32-year-old New York Police Department officer living in Greenwich Village, according to federal court records. As detailed in Kerik's bankruptcy petition, a copy of which you'll find below, he listed debts totaling about $12,000, the largest of which was a $2089.52 Visa bill. He also claimed an inability to pay a $174 Sunoco tab. According to Kerik's filing, his expenses exceeded his income by about $200 per month. Along with costs like rent ($700), food $200), and "alimony, maintenance, or support payments" ($280), Kerik typed in "Barber" on the line calling for other expenses to be listed. Those tonsorial treatments set him back $20 a month.

more…
http://www.thesmokinggun.com/archive/1207041kerik1.html

Bankruptcy papers follow article.

[Anakin Skywalker]

1. Whoooohah!

Most Bushites have got shits in their closets. :)

[NNN0LHI]

2. What do you say about that Rethugs? Bootstraps and all that other crap?

No comment, eh? Didn't think so.

Don

[mod mom]

3. Wonder where he got his stock tip? 6mill from a once bankrupt cop

is a pretty decent stock windfall. Does any one know how to follow up on how he made his 6 mill?

[maddezmom]

4. Tasar stock..I'll look for the link

[maddezmom]

12. finally...posted this before but couldn't find it: Eyes on Kerik

Former Police Commissioner Bernard Kerik recently sold $5 million of Taser stock amid speculation in some law enforcement circles that he is being considered to succeed Tom Ridge to head the Department of Homeland Security.

Kerik's sale of Taser stock coincides with that of Taser's chief executive and co-founder Patrick Smith and Smith's brother, Taser president Thomas Smith. Kerik has sat on the board of the stun gun company since 2002.
more:
http://www.newsday.com/news/local/newyork/nyc-nyker014061153dec01,0,1345296.story?coll=ny-nynews-headlines

[maddezmom]

13. More government business for Taser?

NEW YORK (CNN/Money) - Some investors in stun gun maker Taser are betting that the nomination of Bernard Kerik to head the Department of Homeland Security could lead to some big government contracts for the company.

After all, Kerik is on Taser's board of directors.

Taser (Research) fans were all aflutter on investing message boards Friday morning with enthusiastic predictions, such as this one on Yahoo! Finance:


But investors shouldn't get too excited.

For one, if confirmed, Kerik would need to step down from Taser's board, said Rick Smith, Taser's chief executive officer, in an interview Friday morning.

In a move to possibly pave the way for this, Kerik exercised stock options last month in order to sell about 102,000 shares of Taser stock, according to filings with the Securities and Exchange Commission.

more: http://money.cnn.com/2004/12/03/technology/taser/index.htm

[readmylips]

8. Kerik's 6Mils...read some where...

Kerik invested on a company that was making electrical stunguns for the NYPD while he was Chief. Somehow Kerik dumped his stocks, gaining him 5 plus mils. Soon the stungun company went belly up, making Kerik a handsome millionaire. NYPD lost millions in the contract deal but not Kerik. He cried all the way to the bank.

If Kerik was penniless, how did he get money to invest in the stungun company? Another auricle also talked about Kerik's dirty dealings while he was running the NJ prisons. Thousands of kickback money from cigarette companies went missing. Kerik would sell the cigarettes to prisoners double the price and make himself a handsome dollar for his pocket.

[Yo_Mama_Been_Loggin]

20. Probably from the say guy that gave * tips on where to find oil

[meisje]

5. So Bankruptcy = Deadbeat?

[merwin]

6. No, just this idiot is a deadbeat

"Kerik typed in "Barber" on the line calling for other expenses to be listed".

That sound like an upstanding citizen to you?

[DS1]

16. And?

Regulation haircuts required a trim once per week in the military for me, 20 a month is reasonable for New York City.

[pk_du]

7. More interesting Kerik shit here

http://www.nynewsday.com/news/local/newyork/columnists/ny-nyplaz034063980dec03,0,4849837.column?coll=ny-ny-columnists

[daleo]

9. And he is a deadbeat dad

I haven't heard of him making support payments to the mother and daughter he abandoned, at any rate.

[Barrett808]

10. Check out Josh Marshall's investigation of Kerik's failed Iraq tour

When last we left our story, we were trying to find out why Bernard Kerik left Iraq after three months in the country when he was originally slated to serve from between six and eighteen months building the new Iraqi police force.

The earliest word of Kerik's departure now seems to be in the second week of August in reports in the Newsweek website and in an interview on CNBC.

But perhaps this is another clue. On November 30th of last year Britain's Daily Telegraph reported that a bounty had been placed on the head of Douglas Brand, a South Yorkshire assistant chief constable, working in Iraq on building up the Iraqi police force. According to the article, Brand came to Iraq in July and is an "expert in conflict management came out to Iraq to take over the task of reforming the Iraqi police begun in May by Bernard Kerik, the former New York police commissioner."

So perhaps the plan had changed as early as mid-July, about six weeks after Kerik arrived.

http://www.talkingpointsmemo.com/archives/week_2004_12_05.php#004167

[lalajohns]

11. Senator Hillary Clinton should *look* into this!

hee hee!

[YDogg]

14. Where the hell is Ken ...

... Starr when we need him?

[msgadget]

17. For a minute I thought you were serious!

ROFL!

[spanone]

15. Sounds perfect to head the HOMELAND SECURITY OF THE ONLY

SUPERPOWER IN THE FUCKING WORLD!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[RedEarth]

18. Sounds like he's in bed with the New York mafia.....

pretty amazing to go from bankrupt cop to multi millionaire in 17 years......I'd like to know the rest of the story.

[colonel odis]

19. c'mon, do you really think any of this stuff will keep him out of the job?

bushies flaunt stuff like this. at most, he may have to get up and say how when he was young he was irresponsible blah blah blah.

more than likely, they'll ignore all this. they've thumbed their nose at the entire world. you think for a second they' care what we think about the impropriety of kerik's business dealings?

[neuvocat]

21. Why is this a big deal?

I'm not of the opinion that past financial problems are a deterrent to job qualifications in the present. Besides, the guy's rich, so its not like he can be considered a bought man by outsiders (insiders however are a different issue).

[Rose Siding]

23. Profiteering is lucrative

Why isn't that a bigger deal?

[lanlady]

22. no Top Secret security clearance for him--

--right? I mean, anyone else with his troubled finanical history would be disqualified from obtaining a TS and therefore from a job at DHS.

Silly me--the rules don't apply to Bush appointees.

[Rose Siding]

24. Fox News accused him of abusing authority in searches in '01...

On the night of Nov. 28, 2001, crack homicide detectives fanned out all over New York City, one of them even going as far as New Jersey. In all, five detectives from the Manhattan South Homicide Task Force went to the homes of various suspects, fingerprinted some of them, interrogated all of them and told a few that they would have to take lie detector tests. The horrific crime? The police commissioner's friend was missing some items.

The commish at the time was Bernard Kerik, President Bush's nominee as the nation's next head of Homeland Security. The crime victim was Judith Regan, whose imprint, Regan Books, was publishing Kerik's autobiography, "The Lost Son." It tells the Cagneyesque tale of a kid whose alcoholic mother died a prostitute, but who nevertheless managed to become New York's police commissioner.

Regan's items, including a cell phone, apparently went AWOL from a studio at Fox News Channel. All were later accounted for. The phone was found in a trash basket - and it is my guess that it was the real reason for such measured panic. You never know what numbers might be in a cell phone.
...
...They accused Kerik of abusing his authority and hired a lawyer, Robert Simels. In the end, the employees dropped the matter. Nonetheless, in an interview with me, Simels had this to say: "He abused his authority."

http://www.nydailynews.com/front/story/260382p-222902c.html

[BamaBecky]

27. He strikes me as a BULLY - perfect choice to keep all us dissenters in line

eom

[Poppyseedman]

25. Big deal he went into bankruptcy. Don Trump does it on a regular basis

The big deal here is where how did he get a six million stock windfall ?????
Must be some lucky guy or knows the right people. ahem!!!!

Nothing illegal here. Keep moving nothing to see

[74dodgedart]

26. Borrow and spend -- sounds like a perfect fit for Bush administration

Maybe they should put him in charge of Social Security Reform..

[Supersedeas]

28. more Republican family values

[JMac]

29. More Bush Values....

"He couldn't run the Rikers commissary without getting greedy and making a mess, in a jam," one correction veteran said. "Now he's gonna be in charge of the Department of Homeland Security? Let's just hope the terrorists don't decide to come back."

This former subordinate was referring to just one of many petty scandals that have hung over Kerik's career. When he ran Correction, nearly $1 million of tobacco-company rebates were diverted into an obscure foundation Kerik was president of. This was for cigarettes bought with taxpayer money and then sold at inflated prices to jail inmates. But this rebate money - would kickbacks be a better word? - got spent entirely outside the normal rules for public funds.

No one was criminally charged. But a whole rash of IRS rules were seemingly violated. One board member quit in protest when the foundation treasurer refused to provide him with financial reports. And no one has ever explained where all the money went.

It was a typical Kerik deal. He behaved from start to finish like normal rules didn't apply to him.

http://www.copvcia.com/free/ww3/120704_kerik_nomination.shtml

[MADem]

30. Deadbeat DAD, too!!!

What utter scum this man is. Not only does he fail to pay his bills, he also abandoned his child by a woman he knocked up in Korea. The child was subsequently raised to adulthood by the woman and another soldier that she married.

If this guy was a Democratic nominee, the tar would be heated to a brisk bubble, the feathers fluffed, the crowds ready to drag him through the streets. Of course, since he is a nominee of the fearless leader, none of that will happen. Instead, this miserable, irresponsible, utter JERK will be lauded as some sort of strong, silent type hero, just like Rudy of the Three Wives Giuliani.

The hypocrisy is stunning in the extreme. Where's the lamestream media on this shit????

[Octafish]

31. Mepukes I know HATE people who go bankrupt

"We all have to pay higher credit card interest to make up for all the money that's lost."

"Lazy bums."

"Paupers."

So what does the BFEE do? They changed the law making it harder to do what Bernie did. Gee.