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Detroit emerges from nation's largest municipal bankruptcy
Detroit emerges from nation's largest municipal bankruptcy

The nation’s largest municipal bankruptcy ended Wednesday when the lawyer overseeing Detroit’s fiscal recovery declared the crisis over and gave elected officials control of their own budget for the first time in 20 months, a deal made possible in large part by the city’s exquisite art collection. The bankruptcy closeout was hailed by city officials as an opportunity to begin rebuilding what was once one of America’s most robust cities. But the city now faces pressure to control spending as it tackles the problems that arose during the decades of decline that turned Detroit into a poster child for blight and urban decay. At a news conference, Mayor Mike Duggan...

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