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What Happens after Detroit's Bankruptcy?
By Richard H. Mattoon, Senior Economist, Federal Reserve Bank of Chicago
Detroit's bankruptcy
filing on July 18, 2013, is historic for its size and symbolism: The
largest municipal bankruptcy in U.S. history represents a low point for
the once-dominant American industrial icon. However, Detroit is
certainly not the first U.S. city to face profound fiscal problems.
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