Wednesday, September 12, 2007

The New Definition Of Laundered Money

Mrs. Clinton and the rest of the Democrats who indiscriminately took Norm Hsu's dirty money can heave a big sigh of relief - it's clean. At least by the new defintion of same:
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 thirty-seven 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.

Source Financing's arrangement with Mr. Hsu's company, according to court documents and investor accounts, echoes an older matter that came to light in recent weeks. In 1991, California officials charged Mr. Hsu with grand theft for failing to repay investors for money he raised to import latex gloves from China.
Oh, that forty mil isn't clean in the old, obsolete sense of not having been obtained honestly and ethically (and, you know, legally). And this guarantees several more months of potential bad publicity (though nothing like the maelstrom that would have descended had Hsu been a GOP fundraiser) for Hillary & fiends from their close proximity as beneficiaries of this massive Ponzi rip-off. At best they'll look thoroughly incompetent for their utter, greedy lack of due diligence in vetting this guy, and amoral mercenaries at worst if they knew he was a crook yet took his "bundled contributions" anyway.

But the dough is clean in the sense that it does not appear to have originated in Beijing. Maybe.

So will Hsu's crew call off the return of his "bundles"? Including the portion that Mrs. Clinton had been holding back? If so, it didn't take them long to find their hook for it - that old lib standby, the race card:

[Hillary Clinton spokesman Howard] Wolfson said, "We reject the suggestion that suspicion should be based on ethnicity in America.

"Mr. Hsu donated to numerous charities and more than two dozen candidates and committees," he told The Examiner. "Despite conducting a thorough review of public records, our campaign, like these others, was unaware of Mr. Hsu's decade-plus-old warrant."

In 2005, prior to raising funds for Clinton, Hsu co-hosted a fundraiser for Barack Obama, who later became a Democratic presidential candidate. Obama's campaign is now investigating the validity of $19,000 in contributions it accepted from people associated with Hsu.

"Are you suggesting we should have racially profiled Hsu because he's Asian?" Obama spokesman Bill Burton asked.

See how quickly the "culture of corruption" meme gets tossed aside in when the shoe falls onto the other foot?

I guess Larry Craig and Mark Foley should have launched publicity blitzes denouncing their Democrat detractors as "homophobes" and "gay-bashers".