10 things you need to know today: July 19, 2013

Detroit files for bankruptcy, a police photographer releases Tsarnaev manhunt photos, and more

The former Packard Plant is seen on February 24, 2013 in Detroit. It's been shuttered since the '50s.
(Image credit: J.D. Pooley/Getty Images)

1. DETROIT FILES RECORD BANKRUPTCY PETITION

Detroit on Thursday became the largest U.S. city in history to file for bankruptcy. The city is at least $14 billion in debt, and could owe as much as $20 billion. Detroit was once the nation's industrial powerhouse and the cradle of the U.S. auto industry. It fell into financial ruin over decades, as auto manufacturing declined and residents moved away, reducing the city's population — and tax base — from 1.8 million in 1950 to 700,000 today. [New York Times]

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.