Jack Johnson Bankrupt

[Dickie Dunn]

Idiot fired Pat Brisson back in 2008, used his parents as agents/financial advisors, signed a power of attorney to give his mother control over his money, and his parents proceeded to spend all his money without him knowing.

http://bluejacketsxtra.dispatch.com/con ... sided.html

[meow]

Jesus. How can you do that to your child?

[DudeMan2766]

"Hey who are all these creditors calling me about cars I don't own and houses I didn't buy?"

"No one, just focus on hockey."

[Troy Loney]

Poor guy. is there any legal recourse for him against them?

[Crankshaft]

Idiot fired Pat Brisson back in 2008, used his parents as agents/financial advisors, signed a power of attorney to give his mother control over his money, and his parents proceeded to spend all his money without him knowing.

http://bluejacketsxtra.dispatch.com/con ... sided.html

I wouldn't call him an idiot. You're conditioned to think that your parents will always have your best interest in mind and that out of everyone in the world, they are the ones who will protect you. He's the victim here. Hopefully he can get back on his feet relatively quick.

[mikey287]

Having seen and heard his dad act/talk, I would not guess he had anyone's best interest in mind...

[Pavel Bure]

Yeah wow. How could your parents screw you that badly. Luckily for him he's still relatively young and should have about 7 more years in the league making good money. It should be some sort of requirement for players to put 20% of their salaries in a trust fund they can't touch until they're 50. Allen Iverson of former NBA did that. He's near broke right now but gets a very nice pay day when he hits I think 50 years old. He was smart enough to know he wouldn't be able to handle/manage all that money at a young age and made plans for himself. All athletes should do that.

[dodint]

Everyone should, really. When I went to Afghan as a civ and made good money for the first time I sunk a large portion of my pay into 401(k) and stock knowing that I can't save money if my life depended on it. I'll probably be more comfortable in retirement than I am in my working life from a cash on hand standpoint.

[newarenanow]

Feel bad for the guy. Like Crankshaft said, I think most people have trust in their parents/family, and unfortunately sometimes that backfires.

Hopefully he can get out of some of this and break ties with his parents. Hopefully they get the brunt of this. But I doubt it.

This sucks for him.

[llipgh2]

He let the trust of his parents override his suspicions and common sense. His parents are scum.

NAN - the article notes he has cut all ties from his parents. But he's extremely worried about his 16 year old brother, who still lives with the parents.

One of the "lenders" his parents used is now a US Senator from Iowa.

[Lt. Dish]

Based on everything I've seen and read about Johnson's dad, I'm not as surprised as I'd like to be. I'm reminded of this article I saw years ago:

http://kuklaskorner.com/index.php/rbh/c ... s_baby_boy" onclick="window.open(this.href);return false;

The Lindroses had nothing on these Jagoff Johnsons.

[DelPen]

When I see he decided to drive his BMW to his bankruptcy hearing after decideing not to take the Ferrari I don't feel as bad as I would had he actually be smart about his money to begin with.

And I don't understand not pressing charges against his parents because his brother still lives with him. What do you think they are doing to him or teaching him?

[Troy Loney]

When I see he decided to drive his BMW to his bankruptcy hearing after decideing not to take the Ferrari I don't feel as bad as I would had he actually be smart about his money to begin with.

why? it was his mom taking out a $15M line of credit against his future earnings, not owning several hundred thousand dollars worth of cars that caused this.

When you earn $5M a year, you can have a ferrari and lots more.

[Dickie Dunn]

When I see he decided to drive his BMW to his bankruptcy hearing after decideing not to take the Ferrari I don't feel as bad as I would had he actually be smart about his money to begin with.

why? it was his mom taking out a $15M line of credit against his future earnings, not owning several hundred thousand dollars worth of cars that caused this.

When you earn $5M a year, you can have a ferrari and lots more.

And as it said in the article, those that know him consider him to be pretty frugal for his income. The Ferrari was the one "gift to himself" after signing the big extension.

[newarenanow]

When I see he decided to drive his BMW to his bankruptcy hearing after decideing not to take the Ferrari I don't feel as bad as I would had he actually be smart about his money to begin with.

why? it was his mom taking out a $15M line of credit against his future earnings, not owning several hundred thousand dollars worth of cars that caused this.

When you earn $5M a year, you can have a ferrari and lots more.

This.

[newarenanow]

He let the trust of his parents override his suspicions and common sense. His parents are scum.

NAN - the article notes he has cut all ties from his parents. But he's extremely worried about his 16 year old brother, who still lives with the parents.

One of the "lenders" his parents used is now a US Senator from Iowa.

I just read the posted article. It got into much more detail than the ones I saw elsewhere. Ouch.

I hope it turns out ok for him. It's one thing if he did this to himself, or let his friends run wild. But when you put trust in your parents, the ones you know and trust the most, and they take advantage, that is hard.

[Digitalgypsy66]

[youtube][/youtube]

[mac5155]

this is a crazy story.

[Idoit40fans]

Id cut off all communication with my mother and get my brother to emancipate himself and take care of him.

[Dan H]

Having seen and heard his dad act/talk, I would not guess he had anyone's best interest in mind...

I'm guessing that's easier for an adult to see about someone else's parents than it is for a young guy to realize about his own, though.

[Pavel Bure]

I just can't imagine doing this as a parent. If my son was making tons of money and put me in charge I don't think I could use much of it. It's not mine and I just wouldn't feel comfortable. If it was my job, like I didn't work, I'd take enough for bills and living but I doubt that'd amount to much more than 100k a year and even that's a lot.

[MalkinIsMyHomeboy]

I'm not sad about the lost money, I'm sad because everybody should be able to trust their parents.

[no name]

I would trust my mother... really who wouldn't trust their mom. Oh well, only hope is his parents sunk the money in cars and homes that he can sell off and get some of that back. This is crazy. I would of loved to be a fly on the wall when he blew up at his parents when he found out. I would hope he took control and cut them off.

I always dreamed of having millions and how I would spend it. I always thought I would allocate an amount to spend per year. so I know it would last. Say you won 10 million, you could spend 100k a year for the next 100 years until your out. If I die in 40 years then I can give the rest to my kids.

[ulf]

I would trust my mother... really who wouldn't trust their mom. Oh well, only hope is his parents sunk the money in cars and homes that he can sell off and get some of that back. This is crazy. I would of loved to be a fly on the wall when he blew up at his parents when he found out. I would hope he took control and cut them off.

I always dreamed of having millions and how I would spend it. I always thought I would allocate an amount to spend per year. so I know it would last. Say you won 10 million, you could spend 100k a year for the next 100 years until your out. If I die in 40 years then I can give the rest to my kids.

Or invest it, make 5 percent, 500k annually, and spend 500k per year and still have 10 M when you die :)

[Sarcastic]

My mind is blown. Reading the articles for the first time. I don't know if I would ever talk to parents like that again. It'd be one thing if this was accidental somehow, but it seems they straight up used their kid for money.