The financial coup
Step one, make a huge loan that has no possibility to be repaid.
Step two, when your victim can't repay demand the state, federal, EU, IMF, or whatever entity applies bail you out, but call it a bail out of Detroit, Greece, or whatever applies.
Step three, game the bailout authority into collecting its money by insisting on draconian measures.
Step four, snap up assets at fire sale prices as jurisdiction is forced to sell everything to make debt payments.
Lather, rinse, repeat.
Of course, for this to work you need to be powerful enough to manipulate some entity into bailing out your bad loans. If at any point the governing authority said "you made a bad loan? Gee, that is too bad, you will have to take a loss," the entire con would collapse.
It also necessary to get the press to go along with your spin that the loans must be repaid and that it is the debtor's fault for being irresponsible, not your fault for making loans that make no sense.