Reads: US States, Greece, Portugal Austerity, Vineyard Defaults, CMBS Delinquencies 6.29%, Chicago Unfunded Retirement Deficit

Depressing and somewhat interesting news from today and last night.  Mostly state and sovereign related since that's where the volatility is.  Get ready for my 13D war post..

Mutual funds saw quickest decrease in cash since 1991 (BusinessWeek, also see Prechter's explanation)
Papandreou warns of crisis "domino effect", driving up borrowing costs, reign in speculators (Reuters Video)
Portugal follows Greece with austerity measures, European Monetary Fund coming? (Reuters)
Chicago unfunded retirement deficit up 4.4 fold in 10 years -Civic Federation (ChicagoTribune)
Also read..  Illinois has $5.1 Billion unpaid bills (Comptroller)
States’ Payrolls Lag as U.S. Austerity Sets In: Chart of Day (Bloomberg)
Another Record In CMBS Delinquencies, 6.29% -Fitch (ZeroHedge)
AIG sells Alico to MetLife for $15.5B in ongoing bid to payback government (AP)
China cautions against expecting fast yuan rise (Reuters)
Can California Declare Bankruptcy? (Slate)
Vineyard Defaults Surge as Bargain Wines Hurt Napa (Bloomberg)
US taxpayers on the hook for $5 Trillion Fannie Mae, Freddie Mac debt (Tech Ticker Video)

Barney Frank Asks Top Four Banks To Write Down Second-Lien Mortgages.. (ZeroHedge)
Worlds biggest hedge fund is JPMorgan (High Bridge Capital), Pensions & Investments Says (Bloomberg)
FDIC prodding pension funds to invest in failed banks: report (Reuters)
Oil traders end petrol supplies to Iran as US pressure pays off (
March 3:  Energy Supply and the Individual States (
Can we roll out the Bloom Box already....  We need an energy revolution right now.