The FDIC and Fed aren't putting anything thru the system. They're dead from the neck up and about all anyone is getting from them is more questions and resistence. BRKL will be the winner if they block this one by inaction. It's a hideous deal.
Your post hit the nail on the head. BRKL so overpaid for this RI trainwreck that having the deal killed should add $2 to their stock price. RI has one of the worse RE and economic markets in the country and this bank was carrying a 1% loan loss provision. Maybe it's marking their portfolio to market is what's exposing what's buried their to the light. BRKL is so desperate to get bigger so they can sell themselves they'll buy anything at a huge premium. Maybe Pandit at C will buy BRKL, he's dumb enough
Why do you think that earnings (static, no growth) of 46 cents should command a P/E of 17+ ?
Frankly, the only reason the stock is around $8 is their book value (which continues to deminish as they overpay for acquisitions) and their healthy dividend yield (which has escalated as the price falls). So tell me about the earnings that makes you happy?