Detroit files for bankruptcy--largest filing in US history
Thu, 07/18/2013 - 20:37
DETROIT -- The city of Detroit filed for Chapter 9 bankruptcy protection in federal court Thursday, laying the groundwork for a historic effort to bail out a city that is sinking under billions of dollars in debt and decades of mismanagement, population flight and loss of tax revenue.
Ouch. I guess the writing has been on the wall for some time, but still, wow. What happens next? Robocop?