Sponsored by  Detroit Bankruptcy: Moving Forward  Court rules
city is eligible to file Chapter 9 bankruptcy. (NBC News)  A
federal judge ruled Tuesday the city of Detroit is eligible to
shed billions of dollars in debt as part of the largest public
bankruptcy ever in the United States.  Judge Steven Rhodes said
Detroit, once the nation's fourth largest city, is broke and is
eligible to reorganize under federal bankruptcy law.   Labor
unions, retirees and pension funds are likely to bear the brunt
of pending austerity measures.  Page: [[$index + 1]] comments
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