CBJ's Jack Johnson files for bankruptcy

[haroldsnepsts 4,826]

Why does she even have that kind of access to his money? I'm not saying he wasn't taken advantage of. I'm saying dumb people are the easiest to take advantage of. You can be stupid, and a victim at the same time.

Also, not a week goes by that you don't hear about some parent taking out credit cards in their kids' names, mishandling their money, etc. etc. etc. It's not uncommon. And while I'm sure that it has happend, I doubt seriously that some joker at a reputable accounting firm, heavily regulated by the SEC and internally regulated by their desire to not lose million dollar accounts, is using his clients' money to buy houses and then claiming it was inheritance.

To answer your question, I guess I'd trust...Pat Brisson. The agent he stupidly fired, but who nevertheless seems to managing Crosby, Kane, and Toews just fine. Johnson was duped, in large part because he's dumb, and easily duped it seems.

Easily duped. By his parents.

His parents bought the house because they had power of attorney. And the SEC hasn't exactly done a great job of protecting the US economy, let alone one guy.

I do agree that firing his agent and not replacing him was a giant mistake. His parents, teammates, friends all should've been pointing that out to him. He sounds naive. I guess I just don't judge a 25 year old kid in that situation harshly for trusting his parents. It'd be a different story if he blew it all himself on houses, cars, etc.

[kipwinger 8,496]

You are assuming he expected them to make the financial transactions themselves, versus them being the ones to go out and find financial advisors to handle his money.

He was a 25 year old who just signed a contract for 30 million dollars, which isn't quite the same situation as having your parents on your checking account. It's a tremendous amount of money and people start coming out of the woodwork to get a piece of it. So he put it in the hands of people he trusted while he went out and earned it. I'd venture to guess he's not the only pro athlete who's done this and most of the time it works out.

I'm not sure why that's so hard for you to pick up on.

I'm not so sure why it's so hard for you to pick up on the fact that if you want your money to be safe you should give it to professionals.

Also, 25 isn't that young or naive. Stop acting like he's a child star or something.

By age 25 Mark Zuckerberg was a billionaire. And you know what he probably didn't do? Give access to that money to his parents. Because he's not an idiot.

Edited November 20, 2014 by kipwinger

[Jesusberg 1,256]

They shouldn't have been handling his money in the first place. I'm not sure why that's so hard for people to pick up on. Do any of you have a joint bank account with your parents? Do any of you let your parents buy things in your name, or with your money? When was the last time you looked at your bank account and thought "hmmm, mom didn't spend as much as I thought she would?". Never? That's because only stupid people let others (including their parents) spend their money.

I never had a joint bank account, but my mother knew my pin number and if she was out running errands, would use my card if I had bills to pay and she happened to be going to the bank. Similarly, if I went out the buy groceries so she didn't have to do it, I would have access to her card and bank account. We didn't steal from each other, because we're family and not s***ty people. I understand the concept of having access to a family member's money, but I don't understand the concept of using your family's money without their permission.

Edited November 20, 2014 by Jesusberg

[haroldsnepsts 4,826]

I'm not so sure why it's so hard for you to pick up on the fact that if you want your money to be safe you should give it to professionals.

Also, 25 isn't that young or naive. Stop acting like he's a child star or something.

By age 25 Mark Zuckerberg was a billionaire. And you know what he probably didn't do? Give access to that money to his parents. Because he's not an idiot.

Mark Zuckerberg is hardly a typical example of a 25 year old, so that analogy means nothing.

Actually, Jack Johnson isn't that different from a child star given how athletes are often treated when they excel at a young age. I'm just saying I can understand not knowing who to trust, so you trust your mom to figure it out for you. I don't feel the need to call someone an idiot for that. Naive maybe. I just don't understand the angry reaction people have to a dude who got ripped off by his parents.

[GMRwings1983 8,793]

I do bankruptcy law, so he would be a fun case for whoever gets it. I know Michael Vick filed for Chapter 11. Johnson is the same thing.

Like others said, it's not unusual for athletes to blow their money.

[frankgrimes 1,836]

Easily duped. By his parents.

His parents bought the house because they had power of attorney. And the SEC hasn't exactly done a great job of protecting the US economy, let alone one guy.

I do agree that firing his agent and not replacing him was a giant mistake. His parents, teammates, friends all should've been pointing that out to him. He sounds naive. I guess I just don't judge a 25 year old kid in that situation harshly for trusting his parents. It'd be a different story if he blew it all himself on houses, cars, etc.

Agreed yeah it was a mistake but nobody in his right mind would believe that your own family is taking 15 million $ and turn it into nothing. Sad story indeed at least now he fill find out who his real friends are nice to see that the Jackets are standing behind him also.

[krsmith17 7,191]

Agree completely Jesusberg. I have the same relationship with my parents and sister. Hell, I've even given my credit card and pin to friends if they were going on a beer run or whatever. No one should expect family and friends to steal from them, and obviously he didn't. Like was mentioned before, this likely happens a lot with these young guys making so much money, but luckily everyone's parents aren't complete assholes... If I were making millions, the first person I would go to and the last person I would expect to steer me wrong or steel from me would be my parents... Terrible situation..

Edited November 20, 2014 by krsmith17

[kipwinger 8,496]

Mark Zuckerberg is hardly a typical example of a 25 year old, so that analogy means nothing.

Actually, Jack Johnson isn't that different from a child star given how athletes are often treated when they excel at a young age. I'm just saying I can understand not knowing who to trust, so you trust your mom to figure it out for you. I don't feel the need to call someone an idiot for that. Naive maybe. I just don't understand the angry reaction people have to a dude who got ripped off by his parents.

And I don't understand the need to coddle adults instead of expecting them to make intelligent decisions for themselves. I was responsible for a squad of five other guys in Baghdad, Iraq when I was 20 years old. I guess I just don't have a ton of sympathy for a guy who's not smart enough by the age of 25 to hire an accountant.

Then again, that's all a matter of perspective.

[number9 3,297]

The guy has been so coddled his whole life that he had to have his mommy handle his money for him? I understand not expecting your parents to steal from you, but I don't feel bad for any adult that can't handle their own business... especially when you have more assets to get by with than most of us.

You can blame his parents all day, but at the end of the day it was his money, he's to blame for the choices that he made with it. Sucks his parents stole from him, but that much money corrupts, even corrupts families. Should've handled his own business like a grown man.

Edited November 20, 2014 by number9

[krsmith17 7,191]

I feel bad for those of you that are blaming Jack for trusting his parents... I really do...

[kipwinger 8,496]

I feel bad for those of you that are blaming Jack for trusting his parents... I really do...

And I feel bad for you for feeling the need to turn this debate into a false dichotomy. Trust your parents vs. Manage your Salary Intelligently at age 25 are not mutually exclusive. No matter how convenient for your argument that may be.

[haroldsnepsts 4,826]

And I don't understand the need to coddle adults instead of expecting them to make intelligent decisions for themselves. I was responsible for a squad of five other guys in Baghdad, Iraq when I was 20 years old. I guess I just don't have a ton of sympathy for a guy who's not smart enough by the age of 25 to hire an accountant.

Then again, that's all a matter of perspective.

Coddling him? I don't know the guy. It's not like by me expressing sympathy on an internet forum he's somehow not going to learn his lesson and lose millions more. I just don't hate him for his mistake (Though honestly as a player I've never really liked him. I thought he was overhyped since his days at U of M).

I'm just saying my response is "that sucks the dude got ripped of by his parents" rather than "what an idiot! He gets what he deserves!"

Naive or not, that's a pretty crappy thing to have your parents do that to you.

[kipwinger 8,496]

Again, I had to idea that the point of contention had turned into either A) he's a victim of his s***ty parents, or B) a fool and his money are soon parted.

Couldn't it be both?

[haroldsnepsts 4,826]

Again, I had to idea that the point of contention had turned into either A) he's a victim of his s***ty parents, or B) a fool and his money are soon parted.

Couldn't it be both?

I guess. I think we've sufficiently beaten this to death for a player I don't care about, but..

For me I think the distinction was that he was foolish, but naive and trusting of his parents. I'm a lot more sympathetic to that than to someone who blew it all on houses, cars, drugs, etc.

[kipwinger 8,496]

Ok, I relent. Nothing he could have done to protect himself. At least we can all agree he's better than Terrell Owens.

[Hockeymom1960 5,107]

You know what, people make mistakes all the time. All you can do is fix what you can and have to and then move on. Look backward and learn and move forward. That's how I try and live life.

[Jesusberg 1,256]

Ok, I relent. Nothing he could have done to protect himself. At least we can all agree he's better than Terrell Owens.

And John Daly.

[number9 3,297]

I guess. I think we've sufficiently beaten this to death for a player I don't care about, but..

For me I think the distinction was that he was foolish, but naive and trusting of his parents. I'm a lot more sympathetic to that than to someone who blew it all on houses, cars, drugs, etc.

Of course, I agree.

It's like Kip said at the beginning of this thread though. This is what happens when you have millions of dollars and you put it into the hands of non-professionals. It's very likely that it's going to be mishandled and mismanaged. That was a dumb decision by him, and why I don't feel bad for the guy who fires his agent and gives his money to non-pros.

That being said, I feel bad for him bc he experienced the worst kind of mismanagement, stealing, and from the worst people that it could come from, his loved ones.

And though I feel for him for that, at the end of the day he's money never should have been there in the first place.

[Hockeytown0001 7,652]

Good question is why did a 23-24 year old sign the power of attorney over to his parents? He wasn't a 15-16 year old high school phenom or anything.

[brett 1,029]

with that kind of money id handle it myself cause i wouldnt trust anyone. if it was complicated i would hire someone to teach me how to handle it myself.

none the less they just lost a son.

[kipwinger 8,496]

with that kind of money id handle it myself cause i wouldnt trust anyone. if it was complicated i would hire someone to teach me how to handle it myself.

none the less they just lost a son.

Let me ask you a question, Brett. Let's just say you have these millions... and you want someone to teach you how to manage the money. So, you hire someone to teach you, someone you think you can trust. References, work experience — it all checks out fine. But then how do you really know for certain... that your millions are safe with this stranger? I mean, can you ever really trust another human being, Brett?

No. The answer is, you cannot.

[Jesusberg 1,256]

Let me ask you a question, Brett. Let's just say you have these millions... and you want someone to teach you how to manage the money. So, you hire someone to teach you, someone you think you can trust. References, work experience — it all checks out fine. But then how do you really know for certain... that your millions are safe with this stranger? I mean, can you ever really trust another human being, Brett?

No. The answer is, you cannot.

Maybe it's because of The Office video I posted earlier, but I can't help but read this in Dwight Schrute's voice

[kipwinger 8,496]

Maybe it's because of The Office video I posted earlier, but I can't help but read this in Dwight Schrute's voice

Close. Keep trying. I'll buy a whole round of kudos for anyone that can place it.

[jimmyemeryhunter 2,747]

Close. Keep trying. I'll buy a whole round of kudos for anyone that can place it.

Isn't it meet the parents?

[Guest DeGraa55]

But didn't he go to Michigan? Lol. I thought they hold their student athletes to a higher standard?

He and Frank Clark are shining examples of what being a "Michigan Man" is all about!

Ya you're correct. The school that dismissed the day after he got arrested for DV not convicted only arrested.

Pretty sure that's higher standards than every other school. What team do you cheer for? We can have this debate all day and will gladly show you how michigan is superior.