Detroit files for largest municipal bankruptcy in history

Detroit has become the largest U.S. city to file for bankruptcy, as it struggles with as much as $20 billion in debt. Michigan Gov. Rick Snyder authorized the filing based on a recommendation from Detroit's emergency financial manager. "This is a difficult step but the only viable option to address a problem that has been six decades in the making," Snyder said.

View Full Article in:

New York Times (tiered subscription model), The · Detroit Free Press

Published in Briefs: