It's an overused line, but the other Hsu really dropped tonight. It seems Hsu was running yet another Ponzi scheme but this time he went for the whole enchilada.
'60s Figure Says He Financed Donor HsuWhere did Norman Hsu get his money?
That has been one of the big questions hanging over the prominent Democratic fund-raiser, as reports have surfaced about hundreds of thousands of dollars he made in political donations, plus lavish parties, fancy apartments and a $2 million bond he posted to get out of jail earlier this month.
New documents reviewed by The Wall Street Journal may help point to an answer: A company controlled by Mr. Hsu recently received $40 million from a Madison Avenue investment fund run by Joel Rosenman, who was one of the creators of the Woodstock rock festival in 1969. That money, Mr. Rosenman told investors this week, is missing.
Mr. Hsu told Mr. Rosenman the money would be used to manufacture apparel in China for Gucci, Prada and other private labels, yielding a 40% profit on each deal, according to a business plan obtained by the Journal. Now the investment fund, Source Financing Investors, says Mr. Hsu's company owes it the $40 million, which represents 37 separate deals with Mr. Hsu's company. When Source Financing recently attempted to cash checks from the company, Components Ltd., the investors say they were told the account held insufficient funds.
It's the latex glove scam only with a Gucci logo on it.
Well we now know how the Paw's and other people of modest incomes managed to give so much to Democrats. I said in my last post that I did not understand what was taking the FBI so long to untangle this mess. Now it is all clear. They have a few hundred suspects.
Every person who gave "bundled" donations to Hillary and other Democrat may have committed several felonies. Not the least of which is money laundering, campaign financing violations, wire fraud, RICO violations, tax evasion, the list goes on and on. That's not to say they are all dirty but geeze the FBI has some work ahead.
I also said in my last post the "scandal meter" was still on low... It just climbed tonight, $40 mill ain't chump change. Now, I doubt Hillary knew Hsu's background, but still, the political stink is growing and there are a few people on her staff the FBI is going to want to talk to. -- And the other candidates aren't going to wait for the whole thing to be sorted out before the mud flies. Look for John Edwards to something about this within hours. (Unless he got money too, I forget)
We now know why Hillary was so eager to give back the $850,000 a few days ago. She surely knew this was going to break.
We also know why he skipped on a $2 million bond and tried to OD on the train. He had bigger things on the brain than a 15 year old conviction.
Yet I still have dozens of unanswered questions on this deal..
Like the look on Rosenman's face when he read in the paper about the latex glove scam and realized he had fallen for the same thing to the tune of $40 million.
Hsu gave $1.8 million to the Dems, he gave $2 million to California to get out of jail. He probably spend $5 million being a jet setter. So where is the other $30 million or so that's missing?
Hsu scammed Rosenman out of such a large sum because they worked some smaller deals and made money. Where did that money come from? In my last post, we learned he had all sorts of investors, Hsu's MO would have been to take their money and give it to Rosenman. So that's probably explained but still, we need to know.
Bringing Rosenman into the picture raises some other issues though... Rosenman is a long time Hillary pal. By the looks of it, Hsu never cared about politics until he started doing business with Rosenman. Hsu never even voted. -- Did Rosenman push Hsu to donate to Hill and various Dems? While he is the "victim" I'm sure the Feds are keeping their eyes open on this front as well.
Questions, questions, questions...
I'll close like like I did last post, say what you will about the MSM, they are booming on this story. Every day is another bombshell.
Comments (58)
My, my, my, the dimmers wer... (Below threshold)1. Posted by WildWillie | September 12, 2007 7:23 AM | Score: 10 (14 votes cast)
My, my, my, the dimmers were going to "clean up the corruption" and their biggest political stars are worse then ever. I am loving this. I knew Hillary is the best gift to republicans ever. ww
1. Posted by WildWillie | September 12, 2007 7:23 AM |
Score: 10 (14 votes cast)
Posted on September 12, 2007 07:23
2. Posted by jpm100 | September 12, 2007 7:32 AM | Score: 6 (12 votes cast)
The time frame when Hillary needed the money has passed. Its just Hillary and Obama with Edwards as a very distant third. On that fact alone Hillary can now get plenty of money legitimately.
Early on the campaign trail that was not the case and ill-gotten campaign money may have helped Hillary be one of those front 3 or arguably front 2.
Anyway, Hillary can just give back any identified ill-gotten money because
1) Hillary can now afford to give it back eventhough I'm sure she rather not.
2) the MSM will say thats sufficient to clear her
2. Posted by jpm100 | September 12, 2007 7:32 AM |
Score: 6 (12 votes cast)
Posted on September 12, 2007 07:32
3. Posted by hermie | September 12, 2007 7:36 AM | Score: 8 (12 votes cast)
Hillary may be able to get money 'legitimately', but the Clintons are just too greedy and money hungry to let a little thing like obeying the law get in their way to accumulate more big bucks.
They just have to do it in a way that won't be as visible. Besides, by the time Nov 2008 comes around, the MSM will dismiss it as 'old news'.
3. Posted by hermie | September 12, 2007 7:36 AM |
Score: 8 (12 votes cast)
Posted on September 12, 2007 07:36
4. Posted by Dave W | September 12, 2007 7:57 AM | Score: 5 (9 votes cast)
notice how she only gives the illegal money back AFTER she gets caught. I hope the paw family gets all the money they contributed back! I mean they DID contribute that huge sum of money right???
4. Posted by Dave W | September 12, 2007 7:57 AM |
Score: 5 (9 votes cast)
Posted on September 12, 2007 07:57
5. Posted by rodney dill | September 12, 2007 8:20 AM | Score: 7 (13 votes cast)
Sort of makes Jack Abramoff look like small beans. I doubt the media will jump all over this one thought.
5. Posted by rodney dill | September 12, 2007 8:20 AM |
Score: 7 (13 votes cast)
Posted on September 12, 2007 08:20
6. Posted by TC@LeatherPenguin
| September 12, 2007 8:33 AM | Score: 6 (10 votes cast)
...say what you will about the MSM, they are booming on this story.
Actually, it's only the Wall Street Journal. Just about every other MSM outlet (save, to a degree, the LA Times) is seriously lowballing, if not outright ignoring, this story and its political implications.
Now, if Hsu had been forking the funny money over to Republicans....
6. Posted by TC@LeatherPenguin
| September 12, 2007 8:33 AM |
Score: 6 (10 votes cast)
Posted on September 12, 2007 08:33
7. Posted by Mikey | September 12, 2007 8:39 AM | Score: 4 (8 votes cast)
This story is starting to sound a lot like the Teamsters scandal in the mid-late 90's.
Money was shifted from the union to a company then to another consultant which turned around and transfered the funds back to a campaign.
This has the filthy fingerprints of the Clintons all over it.
7. Posted by Mikey | September 12, 2007 8:39 AM |
Score: 4 (8 votes cast)
Posted on September 12, 2007 08:39
8. Posted by Guest | September 12, 2007 8:45 AM | Score: 1 (5 votes cast)
Velly intelesting, ah so, Meester Rosenshield -- a cut-out?
Hopefully, the FBI, DHS, ICE and all the rest of 'em will put enough resources on Rosenman, his company, his investors and check beyond the apparent domestic source. Hm, and there may be many more Rosenshields and Hsus, with common denominators like Sioeng San Wong - PRC - "Friends of Norman Hsu."
Confucius says:
Many led helling in pond
Koi can swim beyond
and cross the Dragon Gate
http://tattoos.lovetoknow.com/Koi_Fish_Tattoos
http://fengshui.dragon-gate.com/Fishes.asp
Wouldn't it be fun to see the victorious FBI investigator get one of those sexy dragon tattoos!
8. Posted by Guest | September 12, 2007 8:45 AM |
Score: 1 (5 votes cast)
Posted on September 12, 2007 08:45
9. Posted by 914 | September 12, 2007 8:58 AM | Score: 4 (8 votes cast)
"Norman never cared about politic's until He started doing business with Rosenman, He never even voted" ?
Could He ? after all, He is a felon and a chinese national. ahh what the hey, it would be a vote for shillary so it's ok.
Norman! We have guest's...yes mother.
9. Posted by 914 | September 12, 2007 8:58 AM |
Score: 4 (8 votes cast)
Posted on September 12, 2007 08:58
10. Posted by Guest | September 12, 2007 9:06 AM | Score: 1 (5 votes cast)
I was wondering why Federal charges were to be dropped once Hsu was transported from CO back to CA for his CA matter. Is that usual or could it be he's turning state's evidence in exchange? Especially if the "suicide" was an attempt on his life.
10. Posted by Guest | September 12, 2007 9:06 AM |
Score: 1 (5 votes cast)
Posted on September 12, 2007 09:06
11. Posted by jp2 | September 12, 2007 9:42 AM | Score: -9 (13 votes cast)
"Sort of makes Jack Abramoff look like small beans."
Truly frightening. Wizbang sure attracts some winners.
11. Posted by jp2 | September 12, 2007 9:42 AM |
Score: -9 (13 votes cast)
Posted on September 12, 2007 09:42
12. Posted by kim | September 12, 2007 9:49 AM | Score: 1 (5 votes cast)
I don't know the answer, G, but I do have another explanation for the Monroe scene on the train. Before he fled I thought the best course for the Clintonista was for him to stay and lie. I was surprised by his flight, but now he's found and completely neutralized. Whatever he says can be sloughed off as the ravings of a madman.
When aroused, he asked if he was in jail. He didn't know what hit him. That argues against suicide. Granted, he was toxic and confused.
==========================================
12. Posted by kim | September 12, 2007 9:49 AM |
Score: 1 (5 votes cast)
Posted on September 12, 2007 09:49
13. Posted by kim | September 12, 2007 9:53 AM | Score: 0 (4 votes cast)
To be plain, though I doubt you need the explanation, this is a better outcome for the Clintonista than if he were to flee, be found dead, or try to lie.
Criminals learn from their mistakes, just as do the honest. Only the foolish or mad repeat mistakes.
=================================
13. Posted by kim | September 12, 2007 9:53 AM |
Score: 0 (4 votes cast)
Posted on September 12, 2007 09:53
14. Posted by cstmbuild | September 12, 2007 9:57 AM | Score: 2 (6 votes cast)
Ummm, why does it seem people think Mr. Rosenman is an innocent dupe? If Mr. Hsu wasn't interested in politics until teaming up with Rosenman, then I would think, the finger should be aimed at Rosenman. Where was Mr. Rosenman the last month or so? All the sudden Hsu survives a "suicide attempt" and Mr. Rosenman comes forward with his concerns.
jp2: How much money did Abramhoff scam? (I honestly don't know and he used it for personal gain, not to influence/buy national elections) Plus, Abramhoff was convicted and removed from office, unlike all these demos who have been caught with there hand in the cookie jar or freezer William Jefferson (Clinton).
Hsu scammed $40 million and it seems he gave the majority to the Democrats. Sounds like a major scandal to me, plus this is all we know about so far.
14. Posted by cstmbuild | September 12, 2007 9:57 AM |
Score: 2 (6 votes cast)
Posted on September 12, 2007 09:57
15. Posted by Falze | September 12, 2007 10:09 AM | Score: 3 (7 votes cast)
I'll close like like I did last post, say what you will about the MSM, they are booming on this story.
Well, not all of them. You'd think the major paper of the NY State Capital would want to be in on this since it impacts (at least) one of it's senators, one of it's local Reps, it's governor, it's AG, it's State Democratic party.
But if you thought that you'd be wrong. They broke their silence that began when "Hillraiser" Hsu was recaptured when they mentioned Hillary giving back the 850 large. But in the story they failed to mention the scandal surrounding Hsu, just said 'oh, hillary found out there may be problems with certain donations, so they're giving it all back, isn't she great for doing that? She's so great.'. That was on page 5.
Today is day 5 of the Albany Times Union coverup of the Democrat/Hsu scandal. Heck, even the NYT, who owns them, is giving this some play. Not, of course, that anyone is interested in this story at all, so there's no reason for them to cover it. Yeah, right. My local media website's hits yesterday were 7 times higher than normal. This is news.
15. Posted by Falze | September 12, 2007 10:09 AM |
Score: 3 (7 votes cast)
Posted on September 12, 2007 10:09
16. Posted by Neo | September 12, 2007 10:17 AM | Score: 5 (9 votes cast)
I just keep asking myself .. what was it about the Clintons that America was so weary about that Al Gore didn't even want them to campaign for him back in 2000 ?
Now I remember .. it was everything.
16. Posted by Neo | September 12, 2007 10:17 AM |
Score: 5 (9 votes cast)
Posted on September 12, 2007 10:17
17. Posted by Scrapiron | September 12, 2007 10:20 AM | Score: 3 (7 votes cast)
Anything that verifies that the Clintons are life long criminals is old news. Nothing new and nothing to see. Time to give Shrillary another reward and move on.org.
17. Posted by Scrapiron | September 12, 2007 10:20 AM |
Score: 3 (7 votes cast)
Posted on September 12, 2007 10:20
18. Posted by stan25 | September 12, 2007 10:38 AM | Score: 3 (5 votes cast)
Ole Rosenman and Hsu had better keep a low profile. I don't think that they want to end up dead like Vince Foster, Ron Brown and few others that have double-crossed the Clintons. This little ditty makes that story of the Clintons killing those two kids in Mena Arkansas a bit more creditable.
We all know that the Clintons have a dirty trail behind them and would really like to keep it covered up. At least with the Mafia, you knew who you were dealing with up front.
18. Posted by stan25 | September 12, 2007 10:38 AM |
Score: 3 (5 votes cast)
Posted on September 12, 2007 10:38
19. Posted by Paul | September 12, 2007 10:47 AM | Score: 4 (4 votes cast)
On the media... (to several of you)
The NYT and the LAT both have investigative reporters on this and both have produced big bombshell. Plus the WSJ.
Don't convict them of past wrongdoings on this one...
But this gets me interested:
>Today is day 5 of the Albany Times Union coverup of the Democrat/Hsu scandal.
Falze keep me posed. On day 7 I make a post calling them out. That's inexcusable considering they are the state capital and all.
19. Posted by Paul | September 12, 2007 10:47 AM |
Score: 4 (4 votes cast)
Posted on September 12, 2007 10:47
20. Posted by brainy435 | September 12, 2007 10:55 AM | Score: 1 (3 votes cast)
Anyone seen the trolls here yet?
Hmmmmm.
20. Posted by brainy435 | September 12, 2007 10:55 AM |
Score: 1 (3 votes cast)
Posted on September 12, 2007 10:55
21. Posted by Scrapiron | September 12, 2007 11:19 AM | Score: 3 (5 votes cast)
Is it time to demand that the traitors (aka democrats) return every dime they have taken from Moveon.Org and the Socialist/Communist/Marxist Soros, one and the same?
21. Posted by Scrapiron | September 12, 2007 11:19 AM |
Score: 3 (5 votes cast)
Posted on September 12, 2007 11:19
22. Posted by yo | September 12, 2007 11:23 AM | Score: 2 (4 votes cast)
"Anyone seen the trolls here yet?"
I did find a bunch of crickets.
An interesting article in the Times, today:
- "The campaign will try to get most of the donors to give the money back right after the refunds, said a senior Democratic strategist who advises Mrs. Clinton's campaign. "That's the plan," the strategist said. -
Nice.
And, what's even nicer is how Obama and Edwards are getting sucked in, as well:
- Mr. Obama has taken only a measured approach when dealing with donations raised by Antoin Rezko, a Chicago developer facing federal corruption charges. While Mr. Obama has given to charity contributions from people connected to the criminal case involving Mr. Rezko, he has kept thousands of dollars more that Mr. Rezko raised from others. -
And, Obama's folks follow up with the "it's not about the money, it's about the message, stupid":
- "Ultimately we assume that voters will choose based on the record and the vision that candidates have in reforming the role of money in politics." -
Edwards?
- Mr. Edwards, a former North Carolina senator, is saddled with Geoffrey Fieger, a lawyer who was indicted last month on charges of using straw donors to funnel illegally more than $125,000 to Mr. Edwards's 2004 presidential campaign. -
So, that's 3 Dems currently embroiled in dirty money and trying to spin out of it (2 of which, I might add, are part of the most ethical Congress in history ... lol).
Sure, there's Abramoff, but that's not only old news, no current GOP candidate is connected.
The number of GOP candidates caught up in dirty money: 0.5 (McCain/Feingold could take a toll on John).
Indeed, where are the trolls, now?
link:
http://www.nytimes.com/2007/09/12/us/politics/12clinton.html?ex=1347336000&en=0886048fab5b1005&ei=5124&partner=permalink&exprod=permalink
22. Posted by yo | September 12, 2007 11:23 AM |
Score: 2 (4 votes cast)
Posted on September 12, 2007 11:23
23. Posted by BrandonInBatonRouge | September 12, 2007 11:35 AM | Score: 0 (2 votes cast)
Stan25,
Is the Mena, Arkansas, story you refer to related to the bit about the drug-smugglers using a nearby air-field to offload their product?
That's connected to the Barry Seale case, IIRC, which is a part of local lore around here.
(Seale was a drug-smuggler and DEA informant who was eventually killed in a professional hit in front of a local halfway house, where he'd been remanded by a judge.
The halfway house in question is the local Salvation Army, which has been a source of gallows humor around here ever since.)
23. Posted by BrandonInBatonRouge | September 12, 2007 11:35 AM |
Score: 0 (2 votes cast)
Posted on September 12, 2007 11:35
24. Posted by mantis | September 12, 2007 11:48 AM | Score: -4 (6 votes cast)
Sorry Jay, doesn't look like you're getting your "Red China funds Democrats" story.
24. Posted by mantis | September 12, 2007 11:48 AM |
Score: -4 (6 votes cast)
Posted on September 12, 2007 11:48
25. Posted by stan25
| September 12, 2007 11:51 AM | Score: 1 (3 votes cast)
Yes it is.
25. Posted by stan25
| September 12, 2007 11:51 AM |
Score: 1 (3 votes cast)
Posted on September 12, 2007 11:51
26. Posted by Falze | September 12, 2007 12:37 PM | Score: 0 (2 votes cast)
Can do, Paul. What bugs me the most isn't even the Hillary angle, we all know the media will protect her to the death. What bugs me is their silence regarding Gillibrand (who has also been tied to lying about fundraising in other countries, who has her campaign office in DC instead of NY, and who has raked in half her contributions from San Francisco), and even more troubling is the money given to Eliot Spitzer and Andrew Cuomo - the only mention of them was early on and it understated the money they got from Hsu by about a factor of 4 or 5.
26. Posted by Falze | September 12, 2007 12:37 PM |
Score: 0 (2 votes cast)
Posted on September 12, 2007 12:37
27. Posted by Veeshir | September 12, 2007 1:18 PM | Score: 0 (2 votes cast)
Well Falze and paul, if you're waiting for the Albany Times Useless to actually cover a story about Dems doing bad things, don't hold your breath.
Have they covered any of the Spitzer/Bruno/State Trooper story?
I don't know, but I would put a dollar on "No".
Especially since they were the paper used to put out the initial, BS story about Bruno before people started finding out it wasn't about Bruno, but about some in the gov's office using State Troopers to spy on Bruno.
When they didn't find anything juicy enough about Bruno, the Times Useless was more than happy to put out some horribly slanted, factually challenged stories that they were fed.
27. Posted by Veeshir | September 12, 2007 1:18 PM |
Score: 0 (2 votes cast)
Posted on September 12, 2007 13:18
28. Posted by Falze | September 12, 2007 1:29 PM | Score: 0 (2 votes cast)
They've covered 'troopergate' (ugh, I hate the use of -gate for everything, especially since 'troopergate' already has been used) a fair bit, but they certainly have made no effort to dig deeper. I covered that on my blog a bit - they got Fred LeDuckhunter to write a few ramblings deflecting attention away from our increasingly corrupt Governor and focusing on Bruno instead of the people that actually did something wrong. Boy, if Spitzer thought that having been Attorney General meant he knew how to get away with stuff, he was way wrong.
28. Posted by Falze | September 12, 2007 1:29 PM |
Score: 0 (2 votes cast)
Posted on September 12, 2007 13:29
29. Posted by Mitchell | September 12, 2007 1:30 PM | Score: 0 (2 votes cast)
"If the Hsu fits, you must convict!"
Nothing changes with the Clintons--you'd think they'd change a little as they age, just for the sake of change, if not maturity in their old age.
If they were normal, I guess they would.
29. Posted by Mitchell | September 12, 2007 1:30 PM |
Score: 0 (2 votes cast)
Posted on September 12, 2007 13:30
30. Posted by Robert | September 12, 2007 1:33 PM | Score: -7 (7 votes cast)
I heard Hilary returned Hsu's cash.
Still waiting for W to return Enron's.
30. Posted by Robert | September 12, 2007 1:33 PM |
Score: -7 (7 votes cast)
Posted on September 12, 2007 13:33
31. Posted by DP | September 12, 2007 1:33 PM | Score: -4 (6 votes cast)
3774 American soldiers have died in Iraq, and this is the story you consider to be a "bombshell."
(Those of you looking for "trolls," which I can only assume means anyone who doesn't agree with you, here I am. Flame away!)
31. Posted by DP | September 12, 2007 1:33 PM |
Score: -4 (6 votes cast)
Posted on September 12, 2007 13:33
32. Posted by Mitchell | September 12, 2007 1:36 PM | Score: 2 (2 votes cast)
Hey, we got two trolls posting just now. Typical change the subject stuff on Enron/war dead. C'mon, guys, don't you have anything more clever or relevant?
32. Posted by Mitchell | September 12, 2007 1:36 PM |
Score: 2 (2 votes cast)
Posted on September 12, 2007 13:36
33. Posted by yo | September 12, 2007 1:52 PM | Score: 4 (4 votes cast)
"3774 American soldiers have died in Iraq, and this is the story you consider to be a "bombshell."
Please. Here's an idea: ..|.,
Oh, and ...
"Still waiting for W to return Enron's."
Still waiting for Bill Clinton to return the check from the Chinese gov't.
You heard Hill returned the check, but you left out the fact that she's asking for it back.
Stupid enlightened liberals.
33. Posted by yo | September 12, 2007 1:52 PM |
Score: 4 (4 votes cast)
Posted on September 12, 2007 13:52
34. Posted by Robert | September 12, 2007 2:09 PM | Score: -5 (5 votes cast)
Yo,
Are you against candidates receiving illegally gotten money or aren't you?
If yes, lump W and his gang in with the Clintons.
If not, then STFU!
Take a stand you coward!
34. Posted by Robert | September 12, 2007 2:09 PM |
Score: -5 (5 votes cast)
Posted on September 12, 2007 14:09
35. Posted by yo | September 12, 2007 2:23 PM | Score: 3 (3 votes cast)
Coward? Dude ...
Your term of "illegally gotten money" is rather broad. Let's narrow it, shall we?
Money contributed to campaigns NOT in accordance to the law ... yes, I'm against that.
Money gotten illegally THEN contributed to campaigns is bad, too. Kinda' like your logic.
Again, stupid, enlightened liberals
35. Posted by yo | September 12, 2007 2:23 PM |
