I think I know Hu really gave him the money...
Posted on 09/12/2007 12:54:53 AM PDT by CutePuppy
Woodstock Creator Tells DA That Funds Have Gone Missing
A $40 Million Shortfall
Where 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.
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.
"Norman Hsu has an extraordinary ability to deceive," says Seth Rosenberg of Clayman & Rosenberg, a lawyer representing Mr. Rosenman.
(Excerpt) Read more at online.wsj.com ...
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.
Looks like the brown acid really was bad acid. ;)
“Clinton’s an unusually good liar. Unusually good. Do you realize that?” Bob Kerrey [D-Neb.], Esquire, November, 1996.
The donations to Hillary and to other Democrats were probably intended as downpayments on a future pardon...
Prada does NOT manufacture in China, their products are made in ITALY, that is why they are so expensive and I doubt if Gucci does either. Anything that comes from a European named fashion house that is made in China is a FAKE.
The only legitimate fashion house that manufactures in China is Coach.
This is all a massive scam, and likely a smokescreen to hide the real source of hillary's financing.
HA HA.... what a scam, anyway you look at it. If Rosenman is telling any portion of the truth then he and his “investors” are drooling morons. However, his story must be investigated very thoroughly because it could turn out to be just a cover story to distract attention away from possible ChiCom funding of Hillarity vis Hsu. Even given that Mr. Woodstock Rosenman may have done way too much acid through the years, who on earth would seriously invest $40 million with someone like Hsu, for the purposes claimed, without checking him out very very thoroughly???? What, did everyone at Woodstock do the bad acid?????
And I had the understanding that Woodstock was a financial bust. A lot of those long haired hippies were sneaking in and eventually the organizer just gave up and closed down the ticket counter. They really do not want us to find that Made in China tag on their American Queen. And just when the term 'Crinton' is making a come back.
“They really do not want us to find that Made in China tag on their American Queen.”
You mean the Queen of Diamonds, right?
Probably, a very different and "special" kind of investment. Also, there may be a possibility of "Ponzi scheme" involved as well, based on this tidbit: 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.
And pièce de résistance :
Mr. 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. 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."
Let the unraveling begin...
“You mean the Queen of Diamonds, right?”
With all the “bodies” she has buried, she could also be the Queen of Spades...
This man is falling faster than an anvil. The many layers of other names and corruption should hide hillary just fine though.
More Hsu; how many people will lie to protect Clintons.
And Hsu appears to have been reduced to idiocy, possibly by injection of drugs or something. How convenient.
why doesn’t the fbi do their jobs??????
Rosenbaum’s story smells, very badly. Did it take so long to fabricate, that it only comes out now?
Wheels within wheels, within wheels. And every bit of it reeks of Clinton, rather Clinton’s enablers. I still am of the opinion that Bill Clinton, despite his vaunted intelligence (for which their is very little proof), is nothing more than an overgrown juvenile delinquent, completely amoral, and in no way capable of operating at the level from which his benefits come.
love the part where Rosenam labels Clinton as a victim.
She’s the victim?
I think I know Hu really gave him the money...
When playing “hearts” as a kid, we always called the queen of spades “the bubba”.......hmmmm
Actually what better defense when he gets charged with improper donations. He can claim dimished capacity.
Actually being that he is liberal, he can claim dimished capacity anyways
BTTT...
LOL...sounds as though their “business” was making fake designer label goods in China. That makes Roseman a crook, as well as the crooked Hsu, who cheated him out of $40 mil. Gotta love the low-lifes that are attracted to the Clintons like flies to manure.
From Woodstock to exploiting Chiana workers for a profit. That's pretty good.
Due diligence calls for more than that.
Ought to have a look at the investment fund too.
The hapless Mr. Rosenman, who invested (with his Chinese partner)now wants us to believe that he did not perform due
diligence before he invested such a large sum of his and his clients money with Mr. Hsu? Rosenman graduated from Princeton and then went on to receive a LAW degree from Yale. I am very skeptical of this story - Yale grads form a bond (Clinton’s) and the Chinese community is tight-knit!
It boggles the imagination that his lady partner would not have some inkling of Hsu’s previous investment ftaud conviction. Methinks that poor Mr. Hsu is the victim in this scenario...being used as the beard to bundle and give to Hillary’s slush fund.
Ms. HillBill would never think of refunding such a large amount of money (but NOT all that was paid for her parties) if she didn’t realize that the dogs were sniffing too close for comfort. But it should not be allowed that she donate the money right back to her PAC that she uses to buy other politicians.
Did you mean die? Because I think Clinton supports all lie so they don’t die.
if he did die, would end all her problems with his pecadilloes. would also get her sympathy vote big time. In this case makes me wish that he have long and fruitful life.
LOl and i cannot believe i just wrote that last sentence
Are we supposed to believe that the 60s hippy gave Hsu $40 million dollars then sat around several years before trying to follow up on his bucks and how his investment was going?
Won’t wash. If this guy were part of the money-laundering route he wasn’t really concerned about the money once he gave it to HSU.
this is interesting. china does manufacture a lot of fake prada, gucci, etc.
and rosenman would know this. he would also be aware that the originals
are made in italy. so the story is either a cover for the clintons or he
planned to get in on the manufacture of fake luxury goods. the proceeds
of many of the fakes goes to finance terrorism.
WIFE O’BUCKHEAD
Sorry when i answered your last post I did not read closely. I thought you were posting about Rosenman, but still my reply can apply to either man .
That's basically right -- The festival itself was a financial disaster. The folks who bought a ticket have a valuable collector's item, but they were irrelevant in 1969. So many gate crashers showed up that the folks in charge gave up on trying to keep people out, which would have only gotten folks hurt.
But don't shed any tears for the festival organizers. They made back the money they lost on the live show, and a ton more besides, on the movie and double-album of the festival, and from sales of logo merchandise from then to present. Kind of like George Lucas, who got more money from Hasbro than from Fox for Star Wars.
It's also worth mentioning that the organizers of Woodstock might have ben sympathetic to hippies, but they weren't hippies -- they were recent college grads looking for something interesting to do for a living after college. Woodstock from the beginning was supposed to be a for-profit affair.
Several years back, the organizers published a book called "young men with unlimited capital" -- a line from the newspaper ad they ran to encourage folks to pitch them investment opportunities -- that details the behind-the-scenes story. It's pretty interesting and often funny. Rosenman and Roberts didn't spend the weekend in the mud listening to the Dead -- they spent it running around frantically trying to secure enough credit to bring food and water to the site.
why doesn’t the fbi do their jobs??????
The FBI is too afraid of losing their jobs if Hillary wins,
that’s why they won’t do their job.
The FBI is a political hack agency like all of Washington D.C.
________________________________________________________
Wrong...
Prada started testing the waters in China in 2005. A recent Asian Times Online article "China’s Global Luxury Brand Workshop" notes that high end luxury brand names like Prada, Armani and Burberry are outsourcing to China.
Prada now sews in tags that say 'Made by Prada' without naming the country of manufacture. This is especially true of Prada and Prada Sport shoes.
See #32....prada does indeed manufacture in China.
Hey Joel.... your ass is grass. If the law don’t get ya, Bubba’s hitmen will.
(Heard over a blaring P.A. system) “Okay, we just got a report there’s some bad fund raising going around.”
You seem to now a lot more about the fashion industry than many of us here. What’s the source of your knowledge? This is a polite inquiry, not an antagonistic question.
Far out!!!
“”Norman Hsu has an extraordinary ability to deceive.”
“Clinton’s an unusually good liar. Unusually good.”
And notice how Hillary finds great liars with the zeal and talent of a truffle pig.
That sounds right and fitting to me.
Did you mean 'spades?'
I agree. According to the WSJ, Rosenman only launched his "Source Finance Investors" in 2005. But he'd been personally investing with Hsu since 2002, the year he was introduced to Hsu by a Ms. Yau Cheng, who had recently joined Rosenman's firm, JR Capital.
Plenty of time to figure out Hsu's game. Yet, according to the WSJ, Rosenman only figured things out when Hsu's check bounced--coincidently, the same time the WSJ broke the story. Rosenman's very own V-8 moment.
Did Source Finance have any other investments other than Hsu, or was it formed specifically to handle the Hsu deals?
You would almost think that Hsu bought some credit whitener. Background checks by the FBI and/or Clinton didn’t raise any flags, and now a credit check on a guy borrowing $40M comes up like roses, and he gets the loan.
Now who could cleanse his record like that?
And then, once he received $40M, he should have gotten up from the table and never looked back. But no... Some crooks don’t know when to quit. (And we Hillary-phobes appreciate it, Mr. Hsu!)
There may not be many reporters at that hospital but I’ll bet Rosenman’s got somebody standing watch!
It's still the economy Hsu Pid.
I'm still not buying that Rosenbaum gave Hsu 40 MILLION!!
Once the Made in China tag is found in Hilliarity ...will there be a recall?...it all fits...china toy recalled for toxicity.
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