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First Read Flash: Detroit in Decline

Big City Bankruptcy. Detroit became the largest city in U.S. history to file for bankruptcy Thursday.

Detroit Mayor Dave Bing, left, Gov. Rick Snyder and Kevyn Orr, right, listen to a question during a news conference in Detroit, Thursday, March 14, 2013. Snyder announced that he had chosen Orr, a partner in the Cleveland-based law and restructuring...
Detroit Mayor Dave Bing, left, Gov. Rick Snyder and Kevyn Orr, right, listen to a question during a news conference in Detroit, Thursday, March 14, 2013….AP

Karly Schledwitz