Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (8682)	9/12/2007 12:34:06 AM
From: Hope Praytochange	Read Replies (1) \| Respond to of 25737

Two Bankruptcies Where Mr. Hsu got his money has been a burning question in recent weeks. He financed a web of political donations and a lavish lifestyle, despite two bankruptcies and a felony record. Telling acquaintances he was an apparel executive, he set up multiple companies, sometimes giving early investors profits, they say, so they would bring in friends. In some cases, investors in his businesses say they were so eager to please Mr. Hsu that they donated to political candidates alongside him. DONATION DATA See details on political donations from Norman Hsu and a handful of Mr. Hsu's business associates in New YorkMr. Hsu himself has donated $750,000 to Democrats and Democratic parties out of his own pocket since 2004, according to campaign-finance records. In checks no larger than $2,300 apiece -- the legal limit for donations to single candidates for a primary or a general election -- Mr. Hsu also raised more than $850,000 for New York Sen. Hillary Rodham Clinton's presidential campaign. He co-hosted fund-raisers that brought in hundreds of thousands of dollars more, including a recent event for Mrs. Clinton at the Modern, a restaurant at the Museum of Modern Art in Manhattan. The contributions are now haunting the Democratic party. Mrs. Clinton's campaign said on Monday it would refund all of the donations made or raised by Mr. Hsu. More Democrats announced yesterday that they would dispose of funds that Mr. Hsu gave or raised, including Rep. Kirsten Gillibrand of New York ($25,000), Sen. Edward Kennedy of Massachusetts ($35,000), Louisiana Sen. Mary Landrieu ($11,700), Montana Sen. Jon Tester ($4,750), Missouri Sen. Claire McCaskill ($20,700) and Pennsylvania Rep. Joseph Sestak ($2,500). Others have given their money to charity, including Manhattan District Attorney Robert Morgenthau, whose campaign received $2,000 in March from Mr. Hsu. More Democrats are expected to follow. A Wall Street Journal analysis of campaign finance reform records has linked Mr. Hsu with at least $1.8 million in donations to Democrats since 2004. Mr. Rosenberg, the attorney for Mr. Rosenman, asked politicians to hold on to the funds so that Source Financing and other investors can be made whole. "It appears that Source Financing Investors joins Hillary Clinton...and many others as his victims," Mr. Rosenberg said in an interview. "We urge candidates who received contributions from Mr. Hsu to retain those funds so that they may be returned to victims of the scheme." According to his communication with investors, Mr. Rosenman became suspicious after press reports over the past three weeks examined Mr. Hsu's political fund raising and his business past. The first was a Wall Street Journal story in late August that called attention to similar donations by Mr. Hsu and a California family who shared one of his many addresses. The family lives in a modest home and one member, William Paw, is a mailman. Campaign-finance records show the $55,000 in donations the family members have made to Mrs. Clinton since 2004 place them among her leading financial supporters. The family has donated about $225,000 to Democrats since 2005. The U.S. Justice Department is investigating possible campaign-finance violations.