There have been 36 municipal bankruptcy filings since January 2010. Most of these have been submitted by utility authorities and other small special districts that fall into the municipal bucket, but with the addition of Detroit on Thursday, the number of city and town bankruptcies grew to eight. 1) Detroit “Let me be blunt,” Michigan Gov. Rick Snyder said in a video statement. “Detroit’s broke.” On Thursday, Snyder authorized the emergency manager for the city of Detroit — Kevyn Orr — to seek municipal Chapter 9 bankruptcy protection. With as much as $18 billion in debt, Detroit is the largest U.S. municipality ever ... (full story)