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Detroit has become the biggest city in U.S. history to file for Chapter 9 bankruptcy protection.
Michigan Governor Rick Snyder authorized Detroit’s state-appointed emergency manager, Kevyn Orr, to file for bankruptcy on Thursday afternoon, which Snyder described as a painful but necessary step to rebuilding the insolvent city.
(Photo by Eric Thayer/Reuters)

Detroit has become the biggest city in U.S. history to file for Chapter 9 bankruptcy protection.

Michigan Governor Rick Snyder authorized Detroit’s state-appointed emergency manager, Kevyn Orr, to file for bankruptcy on Thursday afternoon, which Snyder described as a painful but necessary step to rebuilding the insolvent city.

(Photo by Eric Thayer/Reuters)

Notes

  1. kingleader reblogged this from msnbc and added:
    I need to research this more.
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  17. upropastiti reblogged this from msnbc and added:
    Been here.. That building had all it’s windows blown out. The whole city is a beautiful mess. In a weird way
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    My city is beautiful #detroit
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