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Michigan Gov. Rick Snyder on Detroit bankruptcy: 'There are no other viable options'

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Michigan Gov. Rick Snyder released a video statement on the news that the city of Detroit had filed for Chapter 9 bankruptcy, saying "there are no other viable options." "This is a situation that was 60 years in the making in terms of the decline of Detroit," Snyder said. "From a financial point of view, let me be blunt: Detroit's broke." Snyder also said that the decision was made due to the...

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