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Motown at square one

Friday, 6 Dec 2013 | 12:00 AM ET

Detroit became the largest U.S. city to declare bankruptcy this week and will now restructure more than $18 billion in debt. Is this a blueprint for other major cities struggling with shrinking revenues and state-protected pensions? Former Detroit Mayor Dennis Archer reveals the legal ramifications of Detroit's bankruptcy and why he's optimistic it's a fresh start for Motown.