Op-ed by Richard Porter, includes “… Bankruptcy is a painful process because it forces creditors who facilitated the city’s failure to take a loss: bond holders, such as hedge funds, Wall Street bankers that sold the bonds and the people who are waiting to be paid for goods and services sold to Chicago, including past and current municipal employees.  … Convincing longtime politicians in her own party to permit this restructuring, many of whom will (justly) experience political pain for facilitating the city’s financial failure, may seem a daunting mission, but it’s the right thing to do for the people she sought to serve as mayor.”