I think it's treated like that because BBT does not communicate any forward strategy or thinking. In another threat I mentioned that BBT's only strategy seems to be growing through acquisitions. That has worked ion the past, and could work via discounted FED acquisitions. However it should communicate and displays some forward thinking otherwise it will not be able to dig out.
Look at STI. It's trading much better while having greater debt, including tarp. However STI communicates that it aggressively pursuits growth, and gets rewarded for that.
Just my two cents, and yes, I do have a substantial amount 'locked' in BBT, and growing increasing more impatient.