In a recent paper, Robert Baade, the economist Bloomberg cites, deals another blow to the idea that propping up stadiums is good public finance.

FORBES: Banks Have Interest Rate Swapped $20 Billion From Taxpayer Pockets

Robert Baade, an economist at Chicago's Lake Forest College, says that the perceived benefits of a successful Games like Sydney tend to be offset by the number of tourists who stay away.

ECONOMIST: Britain's Olympic bid

Robert Baade, an economist at Chicago's Lake Forest College, looked at the perceived benefits of a successful Olympics like Sydney and found that they tend to be offset by the number of tourists who stay away.

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