As to Hsu's connection to the Paws, The Journal writes:

Like every fund-raiser, he asks friends, colleagues and others to support the causes and candidates he supports. That is what <every fund-raiser in America for any cause -- political or nonprofit -- does," Mr. Barcella said in a written statement. "And, in none of these instances, to address the WSJ innuendo, has Mr. Hsu reimbursed them for their contributions."

In other words, it's all legit and above board.

Mr. Hsu began three years ago, with his "first campaign contribution, in the amount of $2,000, to the presidential campaign of Sen. John Kerry on July 21, 2004. Mr. Hsu has since donated $225,000 to Democratic candidates."

Orin Kramer, the chief-fundraiser for Barack Obama, praises Hsu:

"Forget the politics -- Norman is widely regarded as decent, and enormously generous," says Orin Kramer, a hedge-fund manager who is a chief fund-raiser for Barack Obama, the Illinois senator who is Mrs. Clinton's strongest rival for the party's presidential nomination.

Norman says:

"I have been blessed by what this country has given me and have tried to give back in many ways," Mr. Hsu said in an email to a Wall Street Journal reporter earlier this week. "One way has been through political contributions to candidates and causes I believe in. I have never asked for anything in return. I've asked friends and colleagues of mine to give money out of their own pockets and sometimes they have agreed," he added.

The LA Times teaser reports on recipients of other Hsu contributions:

Over the years other recipients of Hsu donations have included Sens. Dianne Feinstein, Barack Obama, Joe Biden and Edward Kennedy.

....In just the last 36 months Hsu has been involved in raising more than $1 million for Clinton and other Democrats. Howard Wolfson, a spokesman for the Democratic National Committee, confirmed today that Hsu had been a "longtime and generous supporter" of the party including Clinton. "We have no reason to call his contributions into question or to return them," Wolfson added.

So, what effect will his 15 year old conviction have on donations he's made in the last three years? The answer should be, none.

The full LA Times article is now up.

For the last 15 years, California authorities have been trying to figure out what happened to a businessman named Norman Hsu, who pleaded no contest to grand theft, agreed to serve up to three years in prison and then seemed to vanish.

"He is a fugitive," Ronald Smetana, who handled the case for the state attorney general, said in an interview. "Do you know where he is?"

Hsu, it seems, has been hiding in plain sight, at least for the last three ears.

On Tuesday, E. Lawrence Barcella Jr. -- a Washington lawyer who represents the Democratic fundraiser -- confirmed that Hsu was the same man who was involved in the California case. Barcella said his client did not remember pleading to a criminal charge and facing the prospect of jail time. Hsu remembers the episode as part of a settlement with creditors when he also went through bankruptcy, Barcella said.

Hillary's Coummunications Manager Howard Wolfson says:

"Norman Hsu is a longtime and generous supporter of the Democratic Party and its candidates, including Sen. Clinton," Howard Wolfson, a spokesman for the campaign, said Tuesday.

"During Mr. Hsu's many years of active participation in the political process, there has been no question about his integrity or his commitment to playing by the rules, and we have absolutely no reason to call his contributions into question or to return them."

The Times describes Hsu's relationship with the Paws.

They have the financial wherewithal to make their own donations," Barcella said. "It didn't come from Norman."

Hsu's bundling, as said above, is legitimate because he doesn't reimburse the donors.

Records show that Hsu has emerged as one of the Democrats' most successful "bundlers," rounding up groups of contributors and packaging their checks together before delivering the funds to campaign officials. Individuals can give a total of $4,600 to a single candidate during an election cycle, $2,300 for the primaries and $2,300 for the general election.

My researching appears to have been correct. Norman Hsu's legal troubles occurred back in 1991. They bear no relationship to the fundraising he's been doing for Hillary, Obama and others now.

He may well not have understood he was pleading guilty or agreeing to a jail sentence. That's not unusual. I won't be surprised if he goes back to California now to try to vacate the plea and sentence. If his plea wasn't knowing and voluntary, with appreciation of the consequences, he might be successful, particularly if he was pro se in that case.

But the bottom line is, I still see nothing wrong with Hillary, Obama, Kennedy or the others allowing Mr. Hsu to fundraise for them.

Update: If you missed Media Matter's take on the yesterday's WSJ article, it's here and well worth a read.