Chicago Mayor Richard M. Daley andformer Aon exective chairman Pat Ryan, who lead the bid committeefor the 2016 Summer Olympics, have a tall hurdle to clear:convincing the International Olympic Committee evaluation team thatChicago's unorthodox combination of limited city and statefinancial guarantees, plus an undefined insurance policy, is justas good as the unconditional government commitments offered byMadrid, Rio de Janeiro and Tokyo. IOC president Jacques Rogge saidthe organization would not insist on the blanket guarantee it hasrequired in the past, but Chicago's insurance plan is untested inOlympic circles–and more difficult to deliver in the currentfinancial crisis. Although Daley contends that no U.S. city hasever lost money outright by hosting the games, there is thepossibility of putting taxpayers on the hook for an undefined tabif Chicago lands the games.
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