In Largest-Ever U.S. City Bankruptcy, Cuts Coming For Detroit Creditors, Retirees - Presented by: The Aol. On Network

A federal judge on Tuesday formally declared Detroit bankrupt, a landmark ruling that clears the way for potentially sweeping cuts to city worker pensions and retirement benefits and for steep and possibly precedent-setting losses to the cash-strapped city's bond holders. The ruling by U.S. Judge Steven Rhodes, who cited the city's dismal finances and $18 billion owed to a multitude of creditors in support of his decision, marks a watershed in the history of Detroit.



Related Videos

Most Popular Videos

Latest Videos


Most Active by Volume

Company Last Sale Change Net / %
BAC $ 16.01 0.20 ▲ 1.27%
AAPL $ 129.09 0.63 ▲ 0.49%
CSCO $ 30.19 0.68 ▲ 2.30%
PBR $ 6.37 0.26 ▼ 3.92%
JCP $ 7.85 0.65 ▼ 7.65%
GE $ 26.11 0.12 ▲ 0.46%
ARUN $ 24.65 0.16 ▼ 0.64%
MSFT $ 43.88 0.03 ▲ 0.07%

As of 3/2/2015, 04:15 PM
More Most Active