Cops are not above the law and neither are you. Two wrongs don't make a right, and frankly a CTA bus operator (whether on duty or not) running a red light and blatantly recording it is absurd. Even cops don't just cruise right through the lights most of the time, 9/10 times they'll at least hesitate and check for traffic, which I didn't notice in the video. Not to mention the cops you see could be responding to calls and were instructed to keep their sirens off for various reasons.
Honestly, this place is going downhill fast. It's sad to see.