By: Mark Glennon*   Consider this:   – Chicago is negotiating to undue a key part of its 2014 pension reform, even while it fights in court to uphold the law. – The law it’s attempting to save in court is the very one that contributed to the credit downgrades and liquidity panic of the past few weeks. – Now, Chicago has concluded that it’s not liable for pension obligations after all. It might be right, but the argument is being squandered.   That’s only part of the craziness into which the city’s pension crisis has deteriorated, and it’s