As Mayor Rahm Emanuel begins his second term in office, the City of Chicago is in a precarious financial situation. In May, all three credit ratings agencies downgraded the city. Chicago Public Schools and the park district also took a hit. Chicago is facing a $550 million hole for fire and police pensions, and a billion dollar budget deficit for CPS. Tuesday at the City Club of Chicago, financial experts came together to break down the city’s financial woes and to discuss solutions. WBEZ’s Susie An and Brian Battle of the Chicago-based advisory firm, Performance Trust, join us with details