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Detroit files for bankruptcy

A long-suffering Detroit has filed for bankruptcy.

The Detroit skyline rises behind the Monument to Joe Louis, also known as "The Fist," Thursday, July 18, 2013. State-appointed emergency manager Kevyn Orr asked a federal judge permission to place Detroit into Chapter 9 bankruptcy protection. (AP Photo/Paul Sancya)

DETROIT (AP) - A long-suffering Detroit has filed for bankruptcy.

The city that's believed have a long-term debt of more than $20 billion, has been plagued with problems after many auto companies left in the 1960s.

Property values and tax revenue fell, police couldn't control crime, and now the city is struggling to maintain a population of 700,000 people.

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