Why a bank needed to sell itself to Uncle Sam to find freedom

The decision, announced by the Treasury Department, gives Suirui 120 days to divest.

After decades running and regulating banks, Joseph Otting has moved on to a booming Wall Street credit sector that’s unencumbered by many of the rules that rein in traditional lenders.

The FDIC is paying the Federal Reserve interest on credit lines to hold the securities, and holding the assets for a long time brings other difficulties.