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California, Illinois, Portugal, Spain, Italy, Greece.

CA and IL are states. They have somewhat different problems. But the countries imposing harsh austerity measures are getting worse and worse. Without money flowing in their economies, they're doomed. And the austerity guarantees it won't flow. The Bush Tarp (and subsequent Obama package) are what prevented that here (however inefficiently they were executed). At least so far.

Not controlling their currency isn't helping either (which is why at least some of them are looking at abandoning the euro).
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