Here's something you might be interested in.
Detroit, once the nation's fourth most populous city, has filed for Chapter 9 bankruptcy, according to the New York Times. It is the largest city ever to file for bankruptcy, and the largest in terms of debt. Details are sketchy this early, but according to the Times, the decision to turn to the federal courts required approval from the emergency manager assigned to oversee the troubled city and from Gov. Rick Snyder.
Detroit, once the nation's fourth most populous city, has filed for Chapter 9 bankruptcy, according to the New York Times. It is the largest city ever to file for bankruptcy, and the largest in terms of debt. Details are sketchy this early, but according to the Times, the decision to turn to the federal courts required approval from the emergency manager assigned to oversee the troubled city and from Gov. Rick Snyder.