Women do indeed love jerks. This mainly applies to younger women. Women get off on "fixing" a man. They want to be the one who turns him around. The problem is that you can rarely change someone.
Women go for certain things - extreme confidence, an "I don't care attitude", and power.
There is a lot of talk about women falling for jerks, but it could be said that men go for the real b*tches too. In fact, there was a book that came out a couple of years ago about it, as I recall.