The US has had a medal winner in every Olympics going back to the first in 1908, until now.

LONDON -- The Olympic boxing venue, almost every session, is packed. Many come to see British middleweight Anthony Ogogo, while others come to discern whether Kazakhstan's 6-foot-9 super heavyweight, Ivan Dychko, has game equal to his size. Increasingly the draw is Katie Taylor, the Irish middleweight who treats opponents' heads like a speed bag.

What they're not coming to the boxing venue to see is American men, because there are none. OK, going into Tuesday night one U.S. male fighter remained, welterweight Errol Spence, who needed his loss overturned in the previous round to even get this far (he ended up losing to Russia's Andrey Zamkovoy in the quarterfinals, anyway). But what's been a slow death over the past 20 years for U.S. Olympic boxing could result in expiration here in London. The U.S. has had a medal winner in every Olympics going back to the inaugural boxing competition in 1904 … until now.

The U.s boxing program that produced 108 medalists, 48 of them gold, is now a dysfunctional embarrassment. The program that once gave the world, among others, Floyd Patterson, Muhammad Ali, Joe Frazier, George Foreman, Ray Leonard, Leon and Michael Spinks, Evander Holyfield, Pernell Whitaker, Oscar De La Hoya, Riddick Bowe and Floyd Mayweather has now produced one gold medal in the past three Olympic competitions and one medal at the most recent world championship.
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Instead, in what amounts to the same old story going back to 1984, USA Boxing officials gave a stiff-arm to proven trainers like Roach and locked out the boxers' individual trainers to make the Olympians work with only the Olympic coach, Basheer Abdullah. USA Boxing folk accuse pros like Roach of using this as a recruiting opportunity to sign the kids to pro contracts. The professional trainers point to the dwindling number of prospects and say, "Recruit who? For what?" In the case of this team, people close to the situation said that Roach suggested they all work together for the benefit of the fighters, but USA Boxing rejected that.
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http://espn.go.com/olympics/summer/2012/boxing/story/_/id/8244927/2012-olympics-us-boxing-continues-fall