Why is this loop heavy code so slow in Python? Possible Project Euler spoilers

[Wildemar Wildenburger]

Martin v. Löwis wrote:
>>> (2) it is a interpretation language
>> Not quite. It's compiled to byte-code - just like Java (would you call
>> Java an 'interpreted language' ?)
> 
> Python is not implemented like Java. In Java (at least in HotSpot),
> the byte code is further compiled to machine code before execution;
> in Python, the byte code is interpreted.
> 
OK, good. Naive question now comming to mind: Why doesn't Python do the 
latter as well?

/W