Detroit Mayor Dave Bing speaks during a news conference in Detroit, Monday, May 13, 2013. The first report by Detroit's emergency manager declares that the city is broke and at risk of running ... more 
Detroit Mayor Dave Bing speaks during a news conference in Detroit, Monday, May 13, 2013. The first report by Detroit's emergency manager declares that the city is broke and at risk of running completely out of money — a financial meltdown that could mean employees don't receive paychecks, retirees lose their pensions and residents endure even deeper cuts in municipal services. (AP Photo/Paul Sancya) less 
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Associated Press | Photo By Paul Sancya
Tue, May 14, 2013 9:17 AM EDT