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Detroit Becomes Biggest Municipal Bankruptcy in US History
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.
By Warren Olney • • 1 min readDetroit, 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?"
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Can Bankruptcy Save Detroit?- 0:00Detroit Becomes Biggest Municipal Bankruptcy in US HistoryYou’re reading this
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The full episode
1 of 3Can Bankruptcy Save Detroit?- 0:00Detroit Becomes Biggest Municipal Bankruptcy in US HistoryYou’re reading this
- 24:26Oregon and the Cost of Higher Education: 'Pay It Forward'
- 43:57President Obama Breaks His Silence on the Trayvon Martin Case