China was approached, but they declined, in this report:
Paulson claims Russia tried to foment Fannie-Freddie crisis
http://www.freerepublic.com/focus/f-news/2440456/posts
“The Chinese had declined to go along with the disruptive scheme, but the report was deeply troubling,” [former US Treasury secretary Hank Paulson] said. A senior Russian official told the Financial Times that he could not comment on the allegation.
There’s still this obvious problem with the story. It didn’t work. It didn’t get Obama elected either. What got Berry elected was hatred of George Bush, the war on terror, and the fact that George Bush was not a communist. “Yes We Can.” People had pushed all the buttons on how conservatives were wrong, capitalism was wrong, and this new Messiah was going to bring about change. So we went from Republicans spending money like drunken sailors to Democrats spending money like drunken sailors on LSD.
The point is that Democrats have the most against them for the meltdown. They stood in the way, they encouraged it the most, and they attempted to demonize the opposition the most with it.
Here is what made the meltdown the worst. The subprime loans. Anything could have kicked this over the edge. You want it to be Russians that wanted Obama elected. The market had multiple triggers all cocked and ready to fire. The Russians did it first is just another red herring.