A New York Times editorial today explains why the Bernie Kerik indictment impacts Rudy's bid for the presidency.

The men have an extraordinarily close bond. Mr. Giuliani plucked Mr. Kerik from obscurity to make him correction commissioner. He made him police commissioner even though he may have been briefed about Mr. Kerik’s ties to the company suspected of links to organized crime. Mr. Giuliani also made him a partner in his security business and promoted him for the Homeland Security Department post.

Two important questions are precisely what are the mistakes the former mayor thinks he made in trusting Mr. Kerik, and how can voters be sure that he would not make them again as president, when the stakes for a disastrous appointment would be so much higher.

The second question is the most important one. The answer is we can't be sure, and Rudy must be judged by his past actions. He ignored too many red flags about Kerik. Perhaps it's a case of willful blindness, of being the ostrich burying his head in the sand. Perhaps it's classic arrogance. Perhaps Rudy is just a bad judge of character.

Either way, Rudy put personal loyalty to Kerik above the good of the nation in recommending Kerik to Bush for the Homeland Security job. Rudy doesn't deserve another chance. He doesn't get to say "trust me." There's no do-over on this one.