Emergency Manager Throws Detroit into Bankruptcy
https://www.wsws.org/en/articles/2013/07/19/detr-j19.html
"The emergency manager overseeing the financial restructuring of Detroit filed a petition in federal court Thursday afternoon throwing the devastated industrial city of 700,000 residents into Chapter 9 bankruptcy.
Republican Governor Rick Snyder, who appointed Wall Street bankruptcy attorney Kevyn Orr as the city's emergency manager last March, immediately approved the filing.
The largest municipal bankruptcy in US history, paves the way for an unprecedented attack on the pensions and healthcare benefits of city workers, the further slashing of essential services and the sell off of public assets to pay the banks and bondholders who hold the city's debt..."