WATCH LIVE: Gov. Snyder And Orr Press Conference On Detroit's Bankruptcy

Michigan Gov. Rick Snyder and emergency manager Kevyn Orr are scheduled  to speak at a joint press conference at 10 a.m. Friday in Detroit to discuss the filing.

Snyder said bankruptcy is the only way for the city to emerge from its crippling $18 billion debt.

“The simple fact is Detroit is in a financial crisis. The city is insolvent and has been borrowing money to pay its bills for nearly a decade. Bankruptcy is the only feasible option to fix the city’s finances” > and do what is right for the 700,000 people of Detroit,” Snyder said.

Watch the press conference LIVE:


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