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On the Line: Detroit Goes Bankrupt

On the Line: Detroit Goes Bankrupt
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Not that long ago, the City of Detroit was a symbol of America's industrial power and economic might. But recent decades have not been kind to the city or its residents, and it's now become the largest US city to file for bankruptcy. Detroit has lost more than half of its population since its peak, as jobs and money fled the city. Now, if all goes to plan, the city will enter Chapter 9 bankruptcy. Is Detroit unique or is it a harbinger of what may lie ahead for other cities? How did it happen and what comes next? That's On The Line. GUESTS Jerome Vaughn (in Detroit): News Director, WDET. Jack Lessenberry (in Detroit): Professor of Journalism, Wayne State University; Sr. Political Analyst, Michigan Radio. Mark A. Calabria: Director of Financial Regulation Studies, CATO Institute.