Detroit can file for Chapter 9 bankruptcy. Now what?
Today, U.S. Bankruptcy Judge Steven Rhodes ruled that Detroit is eligible to enter Chapter 9 bankruptcy protection, and to cut the pensions of city retirees.
What does it mean for residents? Current city employees? City pensioners?
Eric Scorsone, a municipal finance expert from Michigan State University, talks to us about what lies ahead after today’s ruling.
Listen to full interview above.