Stadium 'Waterloo' Decends on Albany

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As the members of the International Olympic Committee close in on a decision for the host city of the 2012 Olympic Games, New York's bid was dealt a crippling blow yesterday. The three-person board controlled by Governor Pataki and the state's legislative leaders rejected state financing for the project.

Here's a report on why the West Side Stadium's Waterloo came upstate from reporter Karen Dewitt in Albany.