Jack Lew: Detroit Will Have to Deal With Creditors to Resolve Bankruptcy

Detroit Debt City

During an interview for "This Week," U.S. Treasury Secretary Jack Lew said Detroit would have to deal with its creditors in order to resolve its recently-declared bankruptcy when he was asked about the possibility of a federal bailout for Motor City.

"Detroit's economic problems have been a long time in developing. We stand with Detroit trying to work through how it approaches these issues," Lew told ABC's George Stephanopoulos.