And Mayor Bing, I know you resisted this bankruptcy option, but are you convinced now that it's going to bring a new start to the people of Detroit?
BING: Well, I'm surely hoping that this will be a new start. Detroiters are a very, very resilient people. And we have a, you know, when we had Chrysler and General Motors that the federal government helped in their bankruptcy, they came back and they are doing well. Detroit is a very iconic city, worldwide, and our people will fight for this. And we will come back.
STEPHANOPOULOS: The auto industry came back with federal help, but Vice President Biden says we don't know, yet, how the federal government can help Detroit.
I know you have been in contact with White House officials, with administration officials, have you asked for federal assistance and what have they told you?
BING: Well, I think it's very difficult right now to ask directly for support. I have gotten great support from this administration. I've got great support from a lot of the different departments within the administration. They have been helpful, but now that we've done our bankruptcy filing, I think we've got to take a step back and see what's next.
There's a lot of conversation, a lot of planning, a lot of negotiations that will go into fixing our city.
STEPHANOPOULOS: So no federal bailout?
BING: Not yet.
You know, I know the president has a lot on his plate. This is going to add tremendously to that. And I want to say, we're not the only city that's going to struggle through what we're going through. There are over a hundred major urban cities that are having the same problems we're having. We may be one of the first. We are the largest, but we absolutely will not be the last. And so we have got to set a bench mark in terms how to fix our cities and come back from this tragedy.
STEPHANOPOULOS: And I know you have to help yourselves first, but, you know, Steven Rattner, who ran the federal bailout, the auto bailout for President Obama wrote in The New York Times yesterday, he said that the president should go through every federal programs and find out what can be done for the people of Detroit. He thinks it's justified.
Isn't there anything the federal government can do?
BING: Well, I do think -- once again that I've had some conversation already, I'll be more specific in the days and weeks ahead. I'm not sure exactly what to ask for. I mean, money is going help, no doubt about that, but how much?
I mean, there are a lot of things -- we have to have an organized plan so we know that whatever we get is going to be invested where we can maximize the return on the investment and give the people the kind of services that they need, give them the idea that they can live in this city and be safe. They can work in the city, they can educate their kids in this city. That's what this American iconic city is all about. And I think that we will once again be foremost in what's happening in our city in terms of coming back.
STEPHANOPOULOS: As you know, a judge has now stepped in, a county judge has stepped in and said this bankruptcy - filing bankruptcy violates the Michigan constitution. Do you agree with that? Are there any other alternatives out there?
BING: Well, I'm not a lawyer. And I'm glad I'm not at this point in time, but I'm hearing -- I am hearing that, you know, that the federal constitution will trump the state constitution. So I do believe that.