Tip of the iceberg, folks. Tip of the iceberg.

The records show that Components Ltd., a company controlled by Mr. Hsu that has no obvious business purpose and appears to exist only on paper, has paid a total of more than $100,000 to at least nine people who made campaign contributions to Mrs. Clinton and others through Mr. Hsu. The payments occurred in the spring of 2003, several months before Mr. Hsu emerged as a contributor to Democrats and more than a year before he started bundling checks from those same people for various campaigns. In all, he has raised more than $1 million for Democrats.

The records make clear that the group was more than just a loose collection of friends, family and co-workers that bundlers typically rely on when raising money for a candidate. Rather, each person had a direct financial relationship with Mr. Hsu, either receiving money from his company or paying into it, even though many of them appear to have other jobs or businesses independent of him. The purpose of the payments, and whether they related to business costs, fees or expenses, is unclear…

The only public evidence of Mr. Hsu’s connection to some of the political contributors who appear in his company’s financial ledger can be found in campaign finance filings. On several occasions, two donors, Winkle Paw, a financial analyst in California, and Paul Su, a computer company executive in New York, described themselves as partners in Mr. Hsu’s companies…

On [one] occasion, Mr. Paw wired $20,000 to Components Ltd., and Mr. Hsu immediately wired $30,000 to another company whose location could not be determined.

In roughly that same period, Components Ltd. issued three checks to Mr. Paw totaling about $16,000, and checks and wire transfers totaling more than $100,000 to eight other people, including a worker at a rehabilitation center for the handicapped, a housewife, a nurse, a real estate developer, a plastics company executive and his wife, and a clothing shop manager.

Mr. Hsu later bundled campaign contributions from all of those people, including Mr. Paw and six members of his family, along with Mr. and Mrs. Su. The Paws and Sus together contributed more than $400,000 since 2004 to Democrats across the country, usually in tandem with Mr. Hsu.

But it doesn’t stop there. Bryan writes:

Not good enough? Here’s the Philly Inquirer’s report on another possible case of “Chinese laundering” involving three managers at a manufacturing plant in Mount Carmel, Pennsylvania, who somehow cooked up $270,000 between them for Ted Kennedy and Hillary, among others. Wouldn’t you know it, their donations came on or around the same dates as Norman Hsu’s donations to the same candidates. Like Flip Pidot says, this is the real money angle to the case; Hsu’s own donations were substantial but it’s the contributors he “bundled” for Hillary and other Democrats that stretch into seven figures.

Hopefully we’ll be getting more answers in the coming days.