South Africa 2010: Cracks in the Foundation?

I've been leading up to a post reviewing the prospects and problems with WC South Africa, but I'm on the road again today and it's not likely to get done.

In the meantime, HERE'S ONE TO THINK ABOUT: as the excellent WorldCupBlog is pointing out, the official FIFA response to yesterday's story about the problem of insuring the Tournament against cancellation raise more questions than it answers.

Generally speaking insurers are willing, even eager, to insure stuff which is pretty safe. While there's always an element of risk, which is why insurance is necessary in the first place, they make a pretty decent dollar (Yen, Euro, Ruble, Dinar) laying bets on stuff which they consider reasonably likely.

The fact that FIFA is basically, as I understand it, having to self-insure the World Cup because they can't find anyone willing to bet that the tournament will come off, while not in and of itself alarming, ought to at least give us pause.