Detroit in largest US bankruptcy
DETROIT (AP) — Detroit’s emergency financial manager says bankruptcy is the “first step toward restoring the city.”
The comments came after Detroit became the biggest U.S. city to file for bankruptcy Thursday.
The filing put the city on an uncertain course that could mean laying off municipal employees, selling off assets, raising fees and scaling back basic services such as trash collection and snow plowing, which have already been slashed.
Emergency financial manager Kevyn Orr says it’s business as usual in Detroit. He says the city will stay open and bills will be paid.
Detroit Mayor Dave Bing says he didn’t want the city to go bankrupt, but now that it’s happened, the people of the city “have to make the best of it.”