The outcome of the Detroit bankruptcy filing promises to inflict more pain on already-beleaguered city workers, residents, businesses, creditors, and investors.
Detroit became the biggest U.S. city to file for bankruptcy, reports CNBC's Brian Sullivan. And Hector Negroni of Fundamental Credit Opportunities discusses what's at stake in this high-profile financial failure.
The Motor City is mired in over $18 billion dollars in debt, reports CNBC's Brian Sullivan.
Jeremy Stretch, head of FX strategy at CIBC, comments on Detroit filing for bankruptcy, which he says, reflects the shift away from traditional manufacturing in the U.S.
In his first national interview, Detroit’s Emergency Manager Kevyn Orr said he could not wait any longer to attempt to solve the city’s long-term debt problems.
Detroit's mayor called the bankruptcy "difficult" but a process that could "pay off," reports CNBC's Scott Cohn. Emergency Manager Kevyn Orr offers insight. Doc Thompson of The Blaze Radio Network, Brian Wesbury of First Trust Advisors and Steve Malanga of the Manhattan Institute discuss.
The Motor City has filed for chapter 9 municipal bankruptcy as it faces up to $20 billion in long-term debt.
Detroit is asking a federal judge for permission to go into Chapter 9 bankruptcy protection, reports CNBC's Scott Cohn.
CNBC's Scott Cohn is following Detroit's decision to file for Chapter 9 bankruptcy; and flipping was hot during the housing bubble, and it seems to be making a comeback, with CNBC's Diana Olick.
CNBC's Scott Cohn reports Detroit has filed for bankruptcy. It is the largest city in the U.S. to ever do so. Emergency manager Kevyn Orr, who was appointed by the state, asked permission to file for Chapter 9 bankruptcy protection today.
Detroit may file for bankruptcy as soon as Friday, setting up what would become the largest municipal insolvency in U.S. history.
Freep.com has reported Detroit prepares to file for bankruptcy tomorrow.
If Detroit doesn't make a sweeping deal with creditors, it's expected to file for chapter 9 as early as this week. Alexandra Lebenthal, Lebenthal & Co., offers insight.
Sen. Chuck Grassley says IRS officials targeted political candidates for audits, and a major player in the Mexican drug trade has been caught. CNBC's Josh Lipton has tonight's headlines; and Retired General and former drug czar Barry McCaffrey, weighs in.
Detroit is $19 billion in debt, and in danger of becoming the country's municipal bankruptcy. What this means for the municipal bond market, with Steve Malanga, Manhattan Institute senior fellow; and Doc Thompson, The Blaze Radio.
Chairman of the Detroit Blight Authority, Bill Pulte is looking to get rid of the dangerous homes in the depressed city of Detroit. He is working to stabilize the city and help fix the suffering public safety issues by decreasing the number of abandon buildings.
Michael Ward, auto analyst at Sterne Agee, discusses the US auto industry "steady recovery", why the Detroit 3 are the biggest beneficiaries and why Japanese brands should continue to hold up.
Lurching toward a possible bankruptcy filing, Detroit has become distraught at talk of selling municipal treasures, such as a classic car collection, to help pay off debts.
Discussing the state of Detroit's economy, with CNBC Contributor Keith Boykin; Heather Higgins, Independent Women's Voice; and Doug Holtz-Eakin, American Action Forum.
Detroit said it would stop making some debt payments and asked creditors to accept pennies on the dollar to help it avoid the largest municipal bankruptcy filing in US history.