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

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