As a New Yawker all I can say is THANK GOODNESS! It's not like NYC is already a smooth moving conduit of friendly people proceeding in an orderly fashion without resorting to shoving, honking, and insufferable accents. Add the Olympics to the mix, and it'd be pandemonium. Sure, they said we'd get all this money for 'whatever', but, honestly, unless it's used for the underfunded schools, or at least to repair the potholes so our cars don't require new shocks on a weekly basis, then who cares.
London can have them. If we did get the Olympics, I'd take a long vacation in 2012.