Detroit files for bankruptcy

Detroit files for bankruptcy
Detroit files for bankruptcy

Detroit files for bankruptcy

Yesterday, Detroit became the largest American city to seek bankruptcy protection. If approved by a federal judge, bankruptcy would force Detroit's creditors, numbering in the thousands, into negotiations with the city's Emergency Manager. In dispute would be an estimated $18.5 billion in debt. Eric Scorsone is a professor of municipal studies at Michigan State University. (Photo: Flickr/Tatiana12)