Detroit: This Is What a $20 Billion Bankruptcy Looks Like
Arts & Culture
This week the city of Detroit filed for bankruptcy. While it's not the only U.S. city to do that, it is the largest.
Buckling under the mass exodus of local industry, high unemployment and crime rates, and what many call a long-standing mismanagement of funds, Detroit is said to be as much as $20 billion in debt.
Detroit's bankruptcy itself is controversial. Some believe a federal bailout is in order, and others are concerned about the bankruptcy's long-term effects. The right move, if there is one, just isn't clear yet. But the city's remaining residents deserve an answer.
The following photos, taken over recent years, show what Detroit's decline looks like on the ground. With many of its neighborhoods emptied, the city still stands, defiant, waiting to be rebuilt.
Photo: Mark Blinch/Reuters