However they deal now with scales that make them disconnected from the true source of credit which operates presently at the scales available to the middle class. The only thing that can absorb credit at their level is WAR and that causes a contraction in global collateral which is very not smart. Even they have figured that out after WWI AND WWII.
The remaining problem is that we also have competing credit pools in China and surely India and Russia outside any potential financial group's access. So it is not a perfect monopoly either.
The real nightmare has actually begun. The OIL industry has begun its death spiral to ZERO. This evaporates about twenty percent of the Global Economy and an equivalent in tax revenue. Insiders see it coming and they clearly do not know what to do except pray. I have posted extensively on this and know it is inevitable. This is a massive shock to the global economic system and no one has a clue as the tide comes in to drown everyone.
It can be dealt with, but after seeing how 2008 was dealt with, i am not an optimist. All solutions to date have actually failed except to allow banks to stay in business. Today countries are about to go out of business. The true tragedy is that it can be handled but those tasked are simply as ignorant as those in 1929.