...in 5 sentences or less why ING is so cheap by some measures? (e.g. book value, fwd EPS) What's wrong here? Seems like a steady business model that may do reasonably well with an aging population.
At this point the market is worried about the slowdown in the Euro Zone, basically a recession. Banks will be weak in that environment. When that starts to tur,n the banks, that are well capitalized, will start to do well.