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Essential Moments from Governor Snyder and EM Kevyn Orr's Friday Bankruptcy Announcement

July 19, 2013

Photo Credit | Rebecca Cook, Reuters

Michigan Governor Rick Snyder and Detroit Emergency Manager Kevyn Orr held a joint news conference on Friday to outline their argument for filing for bankruptcy. Governor Snyder indicated that bankruptcy is necessary to getting Detroit back to fiscal good health; and Orr expressed frustration at continued legal action against the city from groups opposed to decision he has made to restructure the city's debt.

WDET has compiled some of the essential moments from the news conference. Listen below...



Governor Rick Snyder explains that bankruptcy will allow the city to restructure its debt.

Governor Snyder declares that it's business as usual for the city, despite filing for bankruptcy.

Governor Rick Snyder outlines the city's systemic problems with blight and crime.

Governor Snyder challenges the idea the declaring bankruptcy is the worst day in the city's history.

Detroit Emergency Manager Kevyn Orr explaining how Detroit's finances became so problematic.

Detroit Emergency Manager Kevyn Orr explaining that the city's assets are not in any immediate danger of being sold.

Detroit Emergency Manager Kevyn Orr explaining the multitude of debt the city faces with rising legacy and pension costs.



Stay with WDET for the latest updates and news about Detroit's Bankruptcy.



Photo Credit | Rebecca Cook, Reuters