BBT as a bond is interesting. I can live with the concept over the next 18 - 24 months if they can get the dividend up another penny per quarter and the market sets the "bond" yield at 4.25%.
BTW, it seems to me that for BBT almost all posters can be correct. If the market and particularly financials continue to get hammered, shorts can make money on BBT now. If there is nothing wrong with BBT's financial position and we weather the next 18 months to 2 years without diluting shareholders through raising capital for bad loans (of any type), then longs who are buying now will also win.