Detroit Files for Bankruptcy

The city of Detroit has become the largest municipality in the U.S. history to file for bankruptcy. Scott Cohn talks to NBR about what the filing means for the city, its creditors and the nation.

(Read More: Detroit Bankruptcy Could Hit Millions of Retirees)

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  1. joseph a. fabrizi says:

    Cities are part of the state government and all revenue from the state should budget the city financial problem. Why scare every city and each state with this problem. The money comes from peoples in whatever way of life they contribute to the government. The united states government is built on change the people who are in office. Find a way to make every city solvent and you might find the right combination in the choice of the people. All political talk and no substance.

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