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Detroit can file for Chapter 9 bankruptcy. Now what?

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Michigan Government
Detroit Mayor Dave Bing, Gov. Rick Snyder, and the city's Emergency Manager Kevyn Orr.

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.

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