Plus, there's a kind of revenge Schadenfreude at play: the Anglos have not been happy to be mocked or criticized or blamed, and are keen to point out that things are not doing great in Europe (which fits in a "normal" narrative anyway) - so right now the story is that Europe is in a worse shape than the US: its banks are more leveraged, just as full of toxic waste, and with weak, uncoordinated, hapless governments trying to do something about them.

This flies in the face of reality in many ways:

• European institutions and governments have acted: the ECB has been near flawless, and it's hard to say that the part nationalizations we've seen so far are worse than the No Banker Left Behind Paulson Plan;
  
• The US economy is going to crash violently: there's no way large numbers of households can survive the current housing meltdown, unemployment is shooting up, and activity in finance and construction, the two mainstays of past "growth", is, how to put it delicately, stalling. They still need to borrow massive amounts from foreign creditors while servicing ballooning liabilities;
  
• meanwhile, the eurozone has no obvious imbalances, the countries that do have a housing bubble are either very small (Ireland) have healthy public finances (Ireland and Spain) or strong banks (Spain), while the others have no reason to worry at all about such a crash. The economy is much less dependent on finance as an activity (they need banks, but that's going to be solved very soon by de facto or outright nationlaisation) and they produce goods that are attractive to the parts of the world that do have money.
  
• inflation is more of a risk in the US than in europe in the medium term.