Europe's Banks Ready for Worst - WSJ.com

;A FAILURE TO LOOK AT THE OBVIOUS: Europe's Banks Ready for Worst - WSJ.com

The failure to look at the obvious!

The puzzle here is that people do seem to be reluctant, as in the US, to look at those countries (or states), where the economies are doing better and where they are doing worse and then make a judgment call on the policies being followed (or promulgated) by the respective governments.

Austerity is one thing, but pro-active growth policies are another.

In Greece, a conservative leader has come up with some growth policies - but, no one is listening (maybe they will eventually).

In the US, Obama is following and supporting policies like those in California where, unlike in Texas, there is an above-average unemployment rate.

With problem governments (and this includes the US) having leaders and large number of their citizens who are hoping against hope that their obviously bad policy decisions will somehow produce different results, it's easy to see why business people are concerned and loathe to invest.