Investopedia: ING - The Destination Is Known, But The Path Is Murky At Best
Banking is still complicated, particularly in Europe, and insurance is
pretty murky today as well. Combine the two, add in certain (but
uncertain) divestitures, and bailout repayments and you have ING (NYSE:ING).
While there's a decent bank buried in here, the uncertainties that
attend the insurance divestitures mean that valuation is close to a shot
in the dark.