Yesterday, Detroit became the largest municipality in U.S. history to declare bankruptcy. Such an action is unprecedented, so the path forward is murky. Yet one word seems to signify what lies ahead over the next year: battles.
Jul 19, 2013 Detroit Free Press
Nate Berg takes a look at the seven biggest cities to have filed for bankruptcy in the last two decades, the largest of which officially broke the bank as of yesterday.
Jun 28, 2012 The Atlantic Cities
The economic recession is pushing many municipalities towards declaring bankruptcy.
Feb 22, 2010 The Wall Street Journal
<p>The northern California city of Vallejo has declared bankruptcy, becoming one of few cities and the largest in the state to do so. Other struggling cities are watching closely to see if the strategy helps to save the city.</p>
May 13, 2008 The San Francisco Chronicle