Millionaire Kerik A Former Deadbeat -- Smoking Gun

[Florida_Geek]

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

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. Kerik, who reported having $15 on hand and $50 in a checking account, valued his personal property at $2365 (he appraised two .38 caliber firearms at $300). In March 1988, after court-appointed trustee Albert Togut filed a report stating that Kerik was an asset-free zone, Judge Conelius Blackshear signed an order formally releasing him "from all dischargeable debts." (12 pages)

..see the doc at Smoking Gun

[Straight Shooter]

1. Kerik is a deadbeat dad, too

He abandoned his Korean companion and his daughter, Lisa, whom he fathered, shortly after she was born.

But you have to admit, he definitely represents Republican values.

[tk2kewl]

2. And he lived in Greenwich Village

that might not sit too well with fundies :silly:

[LTRS]

3. Where did the stock windfall come from?

That's the more interesting question. You don't just make 6 million in stock overnight on a cop's salary - even a top cop's salary. DU ought to go to work on that one.

Wouldn't it be funny if it came from shorting airline stock prior to 9/11? Okay, not likely to be THAT juicy, but there must be something there. Insider trading, etc.

[BlueManDude]

5. another prick making money of 9/11

not enuf room in hell for people like kerik.

[rurallib]

4. This guy's shaping up to be one of *'s best picks yet

- abandoned child
- bankuptcy
- kickbacks from tobacco companies at NY dept. of corrections.
- uses police to do research for his book while Police Chief NYC
- sends NYC police to Ohio to recover publisher's lost cell phone
- dumped after 3 months of a 6 - 18 month assignment in Iraq.
- 25% of Iraqi force hired had to be let go because of insurgent ties at cost of millions in severance.
- questionable small arms deal with Syria while in Iraq.
- on advice of Guilianni has put millions into Taser after nominated as secy of HS.
http://www.democracynow.org/article.pl?sid=04/12/07/1451239

[KoKo]

8. He made the 6 Mil on Taser Stock? Didn't alot of other Politico's cash

in on that one? Seems Spitzer should get on that right away, but it might uncover some Democratic dealings, too. Ugh...This guy is nothing more than a thug with buddies in high places.

Thanks for the link to all his activities...

[oasis]

6. He was a cop on the take. Kerik just refused to pay creditors.

[KoKo]

7. What recent stock windfall where he made 6 Mil! Whaaaaa????

I'd like to see this. He's definitely a "Rags to Riches" story.

Hmmmmm...Carlyle group?...what other of Bushies Buddies helped him out to make the 6 Mil...
On Edit: I see above he made it on "Taser Stock."

[Zorra]

9. Sounds like a perfect choice for head of the Gestapo. n/t

[elehhhhna]

10. Isn't he Giuliani's associate in the new Terror Consulting Co?

[DavidFL]

11. Ugh. I wish people would stop calling bankrupt debtors "deadbeats"

Not excusing Kerik's recent profiteering. To me, the word "deadbeat" means someone who goes around running up bills with no intention of ever paying them off; and those people are few and far between. But in respect to people who file for bankruptcy, most of the time, it's caused by things that are completely out of their control -- like losing a job, an illness, medical bills, etc. The bills pile up and even though they'd like to, and their income just doesn't allow them to pay off what they owe. We don't know why someone filed bankruptcy until we know all the circumstances of their situation, but exercising their constitutional right to declare bankruptcy doesn't necessarily make them a "deadbeat." Throwing around judgmental words like that just makes it harder for other people to seek help. And with the current sorry state of the economy, I'd imagine there are more than a few people out there over their heads in debt right now.