Detroit’s bankruptcy: The national implications
Detroit has worn many titles. Motor City. Motown. Now it’s adding another: the largest municipal bankruptcy filing in U.S. history.
The Chapter 9 filing means Detroit will have extra trouble borrowing deep into the future. The bankruptcy could jeapardize city assets and union contracts. People retired from government jobs are watching to see what happens with pensions.
Chris Low, chief economist with FTN Financial, joins Marketplace Morning Report host David Brancaccio to explain how Detroit’s bankruptcy will impact each and every state around the country.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
