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Detroit, once a powerhouse of American industry, has for bankruptcy. It has bust, to become the biggest city to insolvency in U.S. history. Detroit's emergency financial manager Kevyn Orr said the city could no longer to pay its bills, and was a whopping $20 billion in debt. He has the court's help in city finances to it to to function. He over 100,000 creditors, including the city's major pension funds and its 10,000 plus public employees. Detroit's pension system is underfunded by over $3.5 billion, many current and past police officers, firefighters and public service workers with big question marks over their future.

Half a century ago, Detroit was up as a gleaming example of American enterprise. Its extensive automobile industry it the nickname "Motor City". However, the once-thriving middle-class city has into a sprawl of run-down suburbs with , boarded-up houses and high unemployment. The car factories that its success have all but . The city said essential services would , but street lighting had been cut off. The city mayor : "Detroit simply was not on a sustainable footing, to borrow, continuing to pension payments, continuing not to pay its bills on time - continuing a deepening insolvency."