We just saw this with the repeal of glass stegal. Could not be fixed because why? Idiots put it in the WTO via the FSA. Now we are stuck with it. Of course nobody ever mentions this until some working paper is leaked by people trying to spike the nomination of larry summers for the Fed Chair. [Regardless of your position of summers or derivatives regulation, its the <technique> that is cringeworthy]

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“As we enter the end-game of the WTO financial services negotiations, I believe it would be a good idea for you to touch base with the CEOs…”

...

...Until the bankers’ re-draft of the FSA, each nation controlled and chartered the banks within their own borders. The new rules of the game would force every nation to open their markets to ... {too big to fail universal banks}.

http://www.vice.com/en_uk/read/larry-summers-and-the-secret-...