October 13, 2012:
" We refused to throw in the towel and do nothing. We refused to let Detroit go bankrupt. We bet on American workers and American ingenuity, and three years later, that bet is paying off in a big way."
http://www.cbsnews.com/8301-250_162-57531867/obama-i-refused-to-let-detroit-go-bankrupt/
July 18, 2013:
"The city of Detroit filed for Chapter 9 bankruptcy protection in federal court."
http://www.usatoday.com/story/news/nation/2013/07/18/detroit-prepares-bankruptcy-filing-friday/2552819/