DETROIT (AP) — An attorney representing Detroit urged a judge Wednesday to allow the city to fix staggering financial problems through bankruptcy, arguing that without it about 65 cents of every tax dollar eventually would be gobbled up by debts and other obligations.
The extraordinary trial, expected to last days, brings the bankruptcy case to its most crucial stage since Detroit in July made the largest public filing in U.S. history. If a judge finds certain legal requirements were met, the city would get the green light to restructure $18 billion in debt and possibly slash pensions for thousands of people, the most controversial target so far.
Hundreds of protesters walked in a circle outside the courthouse with signs that said, "Bail out people not banks."
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