AYSCEUW is correct. On pretty much all counts. LLRs are a non-cash slush fund to smooth earnings. Tell me you dont understand that Norm? And if worse is coming, they will not reverse them and earnings will be ho hum...
And do you really think land lost 80% of its value? According to whom? Such losses only occur if banks foreclose and make them so. You need to review a statment made by Warren Buffett about real estate. To paraphrase, CRE is a long-lived asset and market cycles will come and go, but to say that in any given year the value of that asset is 50%, 60% or 80% less than the previous year's value is nonsense.
We can all fish for data to support our arguments...and Norm you are really good at that, but the price of BB&T is what it is. And it is not going anywhere for some time. Now if you are smart enought to "trade" a profit, more power to you.
But also, look at your original fed numbers...100B in new lending quarter over quarter for the entire industry? that a recovery does not make. We have to put 300,000 people into real jobs every month for the next 2 years. That type of anemic credit expansion is not good news.