Government lost the ability to pass public law when they took bankruptcy. Corporations have always been formed under the executive branch of government.
As long as they are not paid they will be lose canon. To make their system work they come up with false money and this is what they pay themselves with. They have built quite a system based on this false money but eventually it must break down. You have to admire the improvisation that they put into making things work. Who would have ever thought of derivatives in a world relying on gold and silver?