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Show us policy for Olympics cost overruns.(Viewpoint essay)
Crain's Chicago Business, July, 2007
It's time for Mayor Richard M. Daley and Patrick Ryan to come clean with the people of Chicago on the insurance policy the two men claim to have secured against cost overruns arising from the 2016 Olympics. As part of the sales pitch to win support for the city's bid to host the games, Mr.
Ryan said two months ago that he has a letter from an "A-plus-rated'' insurer promising $500 million of insurance against operating-cost overruns the city might incur as host. Mr. Ryan, head of the city's Olympic bid committee, refused to release the letter, name the insurer or provide any details of the offered policy. He still won't, arguing that to do so would help the city's competitors. Trust us-everything's under control. That's the message, a familiar one from...
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