Mayor, Bankrupt City | featured news

Detroit is in a state of financial emergency, Michigan Gov. Rick Snyder (R) said Friday. "There's probably no city that's more financially challenged in the entire United States," said Snyder. "We need to start moving upward with the city of Detroit." Mayor Dave Bing has a 10-day period in which he can request a hearing, after which point, according to the Associated Press, Snyder can appoint an emergency financial manager for the city or revoke his decision.

Senate President Pro Tem Darrell Steinberg (D-Sacramento) says it's too early to make changes in a mediation process for municipalities seeking to file for protection. Legislation that could have delayed some municipal bankruptcies has been tabled after being opposed by the mayors of California's largest cities, including Los Angeles' Antonio Villaraigosa.