White House Denies Meddling in Goldman Sachs Fraud Case

First this CIVIL CASE Overview SEC Complaint Against Goldman Sachs
Released April 18, 2010. A possible fine probable and censure plus good PR for this Administration watchdogging big banks with consequences even though the case in this instance was back in 2007, one client issue..

Second, The Telegraph.co.uk reports Still not to happy with Goldman-Sachs is CHINA: The State-owned Assets Supervision and Administration Commission (SASAC)accused Goldman, among other banks, of peddling "complex products ... with evil intentions".

In going back over US-China-Goldman Sachs family tree roots, Deborah Lehr, a former official in the U.S. Trade Representative's office who previously worked for Stonebridge China with offices in Shanghai and Beijing represented American and Chinese companies with extensive ties with Chinese officials. Lehr's husband, John Rogers, was Treasury Sec. Hank Paulson's chief of staff at Goldman Sachs. Paulson (the Bolten White House)along with team of personal advisers from Goldman Sachs, brought Lehr to the Treasury as his special adviser on China. Lehr resigned for personal reasons a few weeks after the China trip.

Present Time: April 13, 2010: The BBC reported that Chinese President Hu Jintao who has been resisting pressure from President Obama to raise the value of the Chinese yuan, told Obama that the Chinese were preparing to change their policy on the yuan in their own time. This meeting gave to widespread speculation of a possibility trade war within the year between the two Super Powers. Something the Administration does not need added to its bucket of troubles over joblessness, and a troubled economy in general. With millions of Chinese relocating into the cities for industrialized work, the Chinese government must create jobs. The undervaluation of China's currency creates jobs, at the expense of American workers estimated at some 1.4 million American jobs so far.

China has threatened it could dump a few hundred billion dollars worth of Treasuries on the international market decreasing the dollar value, with other countries following suit. These actions, TIME reports "would damage investor sentiment towards the U.S. economy and make it harder for Washington to finance its giant budget deficits, ObamaCare etc, while the short-term costs to the Chinese of such an action would not likely be very large."

Obama & Rahm E. raised more money from financial services players than any previous presidential candidate, but no one or group is safe from becoming a sacrificial offering when the political need arises.

That could tie the Administration in with the action by the SEC; because everything is not always as it appears.

Just a thought.

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