12/07/2012 05:16 pm ET

Bing Says He Knows Bankruptcy, Emergency Manager Possible For Detroit; 'I Haven't Given Up'

A candid Detroit Mayor Dave Bing said this afternoon that he knows deeper state intervention is a possibility for the city he leads -- and possibly a municipal bankruptcy -- but he's doing everything he can to avoid such dire consequences.

"I'm a realist and I know that's a real possibility," Bing said today amid threats from the state that it could appoint an emergency financial manager for Detroit and growing speculation that bankruptcy is inevitable. "But I'm also a fighter and I haven't given up."

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