Eric Snow <ericsnowcurren...@gmail.com> added the comment:

Yeah, I missed the line where he imported foo.bar in "foo/__init__.py", and 
thought something else was going on.
  
"foo/__init__.py" does not have to finish importing (just has to be on 
sys.modules) at the point foo.bar is imported.  So foo.bar would be completely 
imported before the "1/0" expression was evaluated, and you are exactly right, 
David.

Sorry for adding to the confusion.

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Python tracker <rep...@bugs.python.org>
<http://bugs.python.org/issue12554>
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