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Detroit Becomes Biggest Municipal Bankruptcy in US History

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Detroit, one of America's iconic cities — former capital of the auto industry and soul music's Motown Sound — has been in trouble for 60 years. Now, once America's fourth largest city -- with just 40% of its peak population, a shadow of its former self and $18 billion  in debt — it is the biggest American city ever to declare bankruptcy.  What will yesterday's action mean for residents, city workers and retirees?  What more will it take for Detroit to get a "fresh start?"

Credits

Guests:
John Gallagher - Detroit Free Press - @JGallagherFreep, Micheline Maynard - Forbes - @MickiMaynard, Mike Cherney - Wall Street Journal, Andrew Zago - Zago Architecture / Southern California Institute of Architecture

Host:
Warren Olney

Producers:
Kerry Cavanaugh, Katie Cooper, Christian Bordal