Norman Hsu, the ghost of US elections past
By George KooAugust 13, 2015
The resurfacing of Norman Hsu [pronounced "shoe"] reminds us that he was a well-known bundler for Hillary Clinton just two election cycles ago. Today he is ensconced in prison making $40 per month as a high school tutor for his fellow prisoners.
By giving his first interview since he was convicted and sent to prison (WSJ, 8/12/15), we are reminded that he once lived the American dream. He took money for the gullible promising handsome returns. He then gave some to the politicians. The photo-ops with politicians gave him credibility, which enabled him to take more money from more gullible people.
Instead of merely taking money from the later investors to pay off the early ones, his cutting politicians in on the take gave his Ponzi scheme an extra twist. OK, according to the Journal article, he didn’t siphon from funds he raised so much as he badgered his investors into making political contributions directly to the candidate. After all, he was making so much money for the suckers that they should be happy to donate just to stay on the good side of Hsu. ...”
http://atimes.com/2015/08/norman-hsu-the-ghost-of-us-elections-past/
