Leid Stories - 12/04/13

Detroit: Court OKs Bankruptcy; Now, Who Pays the Price?

 

A federal judge’s stunning decision yesterday gave Detroit the go-ahead to declare bankruptcy and restructure its contested $18 billion in debt with more than 100,000 creditors.

Chad Livengood, Capitol reporter for The Detroit News, discusses the implications of Judge Stephen Rhodes’ decision for state and local government, especially regarding steep cutbacks in public services and employment, and the security of workers’ pensions.  

Activist Elena Herrada reports on reverberations at ground level and a renewed determination by Detroiters to fight against what they regard as a hostile takeover of their city.