Alderman wants Daley to explain money guarantee

Chicago Alderman Joe Moore wants Mayor Richard Daley to explain to taxpayers why he agreed that the city will take full financial responsibility if it's awarded the 2016 Summer Olympics.

Daley committed to doing that when he told the International Olympic Committee in Switzerland that he'd sign their host city agreement.

Moore said Thursday he wants an independent review of the risk taxpayers would be exposed to.

Daley has said the games won't burden local taxpayers and he insists that's still the case. Chicago organizers have a safety net of $2.5 billion in public and private funds if the games are a flop.

Organizers say any additional financial exposure for taxpayers is remote.

The IOC will decided in October whether Chicago gets to host the 2016 Olympics.