Copyrighted Image? DMCA | Detroit will become the largest city in U.S. history to declare bankruptcy after a federal judge ruled Tuesday the city had met the legal criteria to win protection from its creditors. Detroit, once a city of 1.8 million and the home of the American auto industry, has suffered a long descent into financial crisis. The city was home to just 713,000 people, according to the 2010 Census, a mere shadow of its post-war apex. Huge pension costs and a recession that sent American automakers into their own financial tailspins exacerbated Detroit's budget gaps. |
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At wapo.st
At wapo.st
