I was just looking at the TT at last year's Vuelta. Again, the results show the same
1st check (11km)
Leipheimer
Chavanel +0:04
Contador +0:05
Sastre +0:37
2nd check (28km)
Leipheimer
Chavanel +??
Contador +0:24
Sastre +1:09
finish (42.5km)
Leipheimer
Chavanel +0:12
Contador +0:49
Sastre +1:30
He lost more time to Leipheimer and Chavanel in the last third than he did in the first two thirds put together.
In fact, by the time he gets to the last few kms, he even starts losing time to out-of-form Sastre.
EDIT:
Just to ram the point home
Olympics:
km 10.8
Contador
Larsson +0:17
Cancellara +0:28
Leipheimer +0:30
km 23.5
Cancellara -0:15
Contador
Larsson +0:10
Leipheimer +0:28
km 34.6
Larsson -0:20
Cancellara -0:14
Contador
Leipheimer +0:32
km 47
Cancellara -1:18
Larsson -0:45
Leipheimer -0:09
Contador
To give you an idea, by the final sector, he's not even gaining time on Chris Anker Sörensen...
He has no stamina. The longer he goes, the more he slows down.
At the first checks, a few kms into the TTs, he has great times. Farther along into every TT, the times keep getting worse.
By the time he's at the last few kms of each TT he's actually going slower than Chris Anker Sorensen and an out-of-form Sastre.