Bloomberg? Probably not.*

By Hadiya Hewitt


Former longtime Mayor of New York City Michael Bloomberg announced four days ago that he was considering running for president in 2016. Disliked by conservatives for his views on gun control, global warming, and abortion, but criticized by liberals for his stop-and-frisk policies and close ties to Wall Street, Bloomberg is likely most popular among New York’s moneyed elite, several of whom, including billionaire hedge fund investor Bill Ackman, have implored the former mayor to consider a run for president. A significant portion of his support from Wall Street is derived from policies he pursued as mayor and his status as a fellow financier and executive. In 2005, Bloomberg and former Governor George Pataki successfully wooed Goldman Sachs to stay in New York with $150 million in new city and state tax credits. Bloomberg himself is the CEO, founder, and majority stakeholder of Bloomberg LP, a news and data company with revenues of approximately $9 billion. An analyst to the former mayor suggested to the Wall Street Journal that the former mayor “has been upset by what he sees as extremist rhetoric from Republicans in the race, as well as a leftward turn from Mrs. Clinton.”

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