It involves our old “friends” the “too big to fail” banks.
Start with the preliminaries that have already happened:
1) In 1999 banks gained the ability to gamble on the derivatives market. Banks gambling was a major cause of the Great Depression (led by Goldman-Sachs) and so the Glass-Steagall act separated “bank” from “investment house” (gambling on the derivatives market and others). Since 1999 that separation was torn down. (Read more…) It’s already had disastrous consequences but the other shoe hasn’t dropped yet.
2) In 2005 the banksters re-wrote the bankruptcy rules. The bill was laughably known as the “Bankruptcy Abuse Prevention and Consumer Protection Act”, and toughened bankruptcy rules for students and ordinary consumers even more. But it did something else nobody noticed at the time.
It created a “Chapter 15 bankruptcy process” for “international financial institutions”.
[VIA WHAT REALLY HAPPENED]