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Detroit Goes Belly-Up

Brush Park, Detroit, MI (Photo: Psychesc25, Flickr.com)
Brush Park, Detroit, MI (Photo: Psychesc25, Flickr.com)

The city of Detroit filed the largest municipal bankruptcy case in U.S. history Thursday afternoon, culminating a decades-long slide that transformed the nation’s iconic industrial town into a model of urban decline crippled by population loss, a dwindling tax base and financial problems.

The 16-page petition was filed in U.S. Bankruptcy Court in Detroit.

Watch Michigan Gov. Rick Synder explain Detroit Bankruptcy Filing here.

 

 

 

 

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