Lessons From London

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One day after Chicago politicians did their part to seal the city's financial fate, London was kind enough to give the city a preview of coming attractions.

The London agency responsible for acquiring the land on which the 2012 Olympics will be held ran up a 160 million pound shortfall as a result of poor accounting and financial controls, a report said on Friday.
The London Development Agency (LDA), the Mayor of London's business and economic agency, created the overrun after failing to do enough to monitor spending and expenditure commitments on land purchases and compensation to companies forced off the 500-acre site in Stratford, east London.

But, undaunted, the first lady will try to close the deal by heading to Copenhagen to convince the IOC that Chicago, more than any other city, wants a crack at demonstrating responsible Olympic funding.

There is no doubt in my mind that Chicago would offer the world a fantastic setting for these historic games and I hope that the Olympic torch will have the chance to burn brightly in my hometown."

As a native of the Windy City, she should know fire and Chicago don't mix too well.

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