Economy
9:50 am
Fri November 8, 2013

Bankruptcy couldn't have been prevented, Detroit official says

DETROIT, MI (AP)--   Detroit Mayor Dave Bing says the city's bankruptcy filing was "inevitable" after it "hit bottom" from loads of debt. 

Detroit Mayor Dave Bing
Detroit Mayor Dave Bing

But Bing tells The Associated Press that Detroit needed more resources and money from the state not an emergency manager.

He says without those things there was no way for Detroit to get rid of $18 billion of debt except through bankruptcy.

On July 18, state-appointed emergency manager Kevyn Orr made Detroit the largest U.S. city to file for bankruptcy.

Bing did not seek re-election and is on his final two months as mayor. He opposed Orr's appointment, but promised to work with the turnaround specialist.

Former Detroit Medical Center chief Mike Duggan was elected mayor Tuesday. He takes office in January.