Your Voice: Detroit Files Chapter 9 Bankruptcy

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Detroit has filed chapter 9 bankruptcy. Governor Rick Snyder and Emergency Manger Kevin Orr finally speak out regarding the city’s move to file saying there is no way the City of Detroit can pay off nearly $18 billion dollars in debt to creditors. So, you may be asking yourself “what happens next?”. Well many retirees fear they might lose their pension, while creditors fear they may never see the money they are owed from the city of Detroit. What will happen for sure is a bankruptcy Judge will be assigned. Keep in mind that the assigned bankruptcy Judge (whomever it may come to be) could come from any state, not just Michigan. For full video coverage look below:

 PBS NewsHour

RELATED LINKS: Detroit Retirees Fear Pension Cuts After Bankruptcy Filing

RELATED LINKS: Detroit Files Chapter 9 Bankruptcy Protection

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