If every stock was pegged to all the parameters book value, revenue, net income ,eps. etc. and there was not "perception" "emotion" "analysis" human error" then all stocks would trade at a fixed price and be rigid. It is a mkt of stocks and not a stock mkt. There is nothing to explain it's just the way it is. I guess to parse it does not matter what the Officers told us re SIFI. there is still the perception of Regs due to Election results,philosphy etc. Think of it billions of pension liability for GM which is partly owned by the Gov. Do you really think there won't be some consequence to that as per regs. If so then How much latitude going forward will the co have as to dividends ,buybacks. Remembe as a kid( If you're old enough) the game "How many steps before the King/Queen" Oh Lord Master Gov may I raise the div.? Not today my son I have a pickle up my #$%$! That's just one aspect what about all the other things short of an asteroid hitting the planet that might affect the mkt./stock. You might even have to consider that too since it is an insurance co. Sorry to sound flipant but that's just my take on it.