Bloomberg contemplates independent run for president

Another New York billionaire could add his name to the list of candidates vying for the White House in 2016. According to a New York Times report this morning, former New York City Mayor Michael Bloomberg has set in motion a possible independent campaign that could officially launch in March.

Friends and associates told the Times that Bloomberg was seriously considering a bid because of the direction the two main political parties were headed, with fellow mogul Donald Trump rising as the top Republican contender and socialist Bernie Sanders possibly overtaking stumbling Democratic front-runner Hillary Clinton.

“Mike Bloomberg for president rests on the not-impossible but somewhat unlikely circumstance of either Donald Trump or Ted Cruz versus Bernie Sanders,” past Democratic National Committee chairman and former Pennsylvania Gov. Ed Rendell told the Times. Rendell, who is a Clinton supporter and a friend of Bloomberg’s, added, “If Hillary wins the nomination, Hillary is mainstream enough that Mike would have no chance, and Mike’s not going to go on a suicide mission.”

Bloomberg is known for his close ties to Wall Street and as a liberal on social issues, including being pro-abortion and anti-gun. He is also remembered for trying to ban oversized sugary drinks in New York City as mayor. The ban eventually was rejected by New York’s Court of Appeals, the state’s highest court.

The 73-year-old businessman has considered running for president as a third-party candidate in previous elections but never pulled the trigger on a candidacy. Anonymous friends and associates told the Times that Bloomberg was willing to spend at least $1 billion of his own money. He reportedly has hired a consultant to help him get on the ballot in all 50 states, should he decide to run.

No independent candidate has ever won a presidential election.