There are two semi-rational explanations for the sharp falls in the share prices of French and other European banks.

BBC: Fear and capitulation in European banks

Here are those semi-rational explanations.

BBC: Fear and capitulation in European banks

But the problem with at least one of those semi-rational explanations is that all three ratings agencies have today said they're not going to downgrade France from AAA, and also that the price of French government bonds has actually risen today, which would be a good thing for French banks.

BBC: Fear and capitulation in European banks

There is no rational basis for the distinction between the semi-automatic hunting rifles that the ban prohibits and those it does not.

FORBES: Forget Market Failure, Our Crumbling Democracy Speaks To Political Failure