Who will get screwed in Detroit's bankruptcy?

A federal judge just approved Motor City's bankruptcy filing, and outlined who can take the inevitable hit: Almost everyone

Detroit protesters
(Image credit: (Bill Pugliano/Getty Images))

On Tuesday, U.S. Bankruptcy Judge Steven Rhodes upheld Detroit's eligibility to file for Chapter 9 bankruptcy, and then gave some bad news to the ailing city's municipal workers and retirees: Their pension funds are on the block.

"In the long-running story of Detroit as Humpty Dumpty," says Laura Berman in The Detroit News, this "was another of the accumulating historic days confirming the city's long, slow fall to the inevitable."

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Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.