http://www.businessspectator.com.au/bs.nsf/Article/NAB-will-shock-Wall-Street-GV4M7?OpenDocument&src=stf

The National Australia Bank's decision to write off 90 per cent of its US conduit loans will have dramatic repercussions around the world...

At the same time the US is waging war in two countries and Iran may be the next destiny. Instead of writing off loans, it should be possible to put pressure on the US government to take responsibility for the loans. They must have a lot of money when they are going to war abroad. Say they should give you the weapons they have, like military aircraft or else for the bad loans.

Further isn't it possible to recall other loans from the US stating they are not secure and only granting another ones for much much higher interest because of the risk with the US. They have now a record deficit there.
When this is done worldwide at best in an alliance the US could get financially in trouble and this can be used to try to dictate the US what to do in some areas.

It may be possible to press it for instance to finish wars, to a overhaul of their weak democracy and once and for all finishing the abuse of any technology.
But countries with loans could make their own wish list.

Finishing the abuse of technology could be done for instance by setting up strong independent control agencies which can go anywhere anytime to check. National security corporate interests must not a hindrance for them to investigate.

Why not trying to put pressure on the US.

The other way round it has been up to now many times.
The war in Iraq was against the world community. There were no means to stop it or they were not available.

It is also in the interest of the UN to get means against the US. Maybe it could head such a plan or propose other ones to make the US behave in the world community. I do not know if there are plans there but doing nothing would just look like being a accomplice with the current injustice, in the interest of American imperialism and weakening the UN in its original sense. It cannot be that sanctions or military actions are only turned against the weaker nations.