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Regulators are contributing to the profits of smart short sellers. Check out this headline:

Regulators Eye Easing of Goodwill M&A Hurdle
At a time when banks are strapped for capital and short on acquirers capable of taking over troubled banks, regulators are proposing to let buyers count some goodwill toward Tier 1 …


Why allow goodwill to be counted towards Tier 1 capital? It is not capital, it is intangible good feelings at best, and an excuse to overpay if looked at from a realistic perspective. So, depositors, savers, and investors, when you think your US bank is well capitalized during a tumultuous period, just be aware that some of the capital is the good feeling IOU's if I get my ways, light green Monopoly (as in the Parker Brother's game) style money.