Mitch Albom: Detroit is not Atlantis, it will not die

Can Washington step in and save Detroit?

Michigan's governor Rick Synder said the Motor City's abysmal financial condition left him no choice but to approve the nation's largest public sector bankruptcy.

Vice President Joe Biden seemed unsure whether the federal government should do anything about it.

"Can we help Detroit. We are now going through it exactly in detail. We had a meeting yesterday just getting a brief on the status. The question is we don't know at this point," Biden told reporters.

Detroit's bankruptcy could spell good-bye for Howdy Doody

White House Press Secretary Jay Carney tried to distance the administration from it.

"You have heard leaders in Michigan say, and we believe they're correct, that this is an issue that has to be resolved between Michigan and Detroit and the creditors," Carney said.

Is bankruptcy the only way forward?

Or is the nation standing by while the birth-place of muscle cars and Motown crumbles?

Outfront tonight: Best-selling author, journalist, screenwriter, playwright and 30 year Detroit resident - Mitch Albom.