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Taking note of the bookies' prowess in picking the new Pope, let's see what the sharps have to say about that most wonderful of wonderful dreams, the prospect of New York City hosting the 2012 Summer Olympics. To the wires:

Tradesports: Paris shares trading at 62.4, London shares trading at 23.4, New York shares trading at... uh... 8.4. (But kicking Moscow's ass!)
redabet.com: Odds, Paris 1/2, London 9/4, New York 20/1

On the up side, everything's going swimmingly with the NYC bid. Well, except for the West Side Stadium problems. Oh, and the new revelation of "offers of financial incentives" by NYC bid organizers that "may have crossed ethical lines." The path ahead is clear: 100 units on Paris, in a parlay with Pavano and the over tonight.
NYC Olympic Bid: Ethical Bound Line Stepper? [Gothamist]