Intrade Launches Bloomberg Contract

One day after The New York Times reported that NYC Mayor Michael Bloomberg will seek to amend the cty's term-limit law to run for a third term, Intrade launched a contract on whether his legal maneuvering will succeed.

Since two-thirds of New York City Council members also face the prospect of being forced out of office by term limits, there's little doubt the legislature is inclined to back the bill. 

The only stumbling block, of course, could be irate constituents, who roundly rejected a similar attempt by Rudy Giuliani to prolong his stay in 2001. 

It should come as no surprise that Giuliani has already expressed support for the measure. Much more importantly, Bloomberg has already received the backing of The New York Daily News, The New York Post, and The New York Times.

In a glowing editorial today, the New York Times wrote:

"Term limits are seductive, promising relief from mediocre, self-perpetuating incumbents and gridlocked legislatures. They are also profoundly undemocratic, arbitrarily denying voters the ability to choose between good politicians and bad, especially in a city like New York with a strong public campaign-financing system, while automatically removing public servants of proven ability who are at a productive point in their careers."

"Go for it, Mike," wrote the edtiorial board of The New York Daily News. "Go for it wholeheartedly, without reservation." In rare agreement with its tabloid rival, The New York Post featured Mayor Mike in a crown on its cover with a headline blaring "Mike The III." 

The New York Post editorial said the mayor's decision was timely "because Wall Street's turmoil means hard times for New York City" and wise "because no one in public life is better equipped to deal with such troubles than Mayor Bloomberg."

 The Bottom Line - Bet big on Bloomberg. The politically popular mayor, backed by his hometown newspapers and legislators also looking to keep their jobs, will parlay his business expertise into a third term.

Bloomberg Hits The Books: Is He Preparing For Prime Time?

Sam Stein, a recent Huffington Post hire and fellow graduate of the venerable Tom Edsall school of political analysis, is reporting that Bloomberg is cramming on foreign policy in advance of a potential presidential bid. If true, the news certainly seems like solid evidence that Bloomberg is still flirting with a bid - at least the most intriguing speculation since Newsweek editor Jon Meacham profiled the coy possible candidate in a recent cover story and announced that Bloomberg's chief strategist thinks his boss would blow a billion bucks on the campaign.

The Bottom Line: Bloomberg's stock, which has been trading for weeks around 14, is likely to spike as more details emerge and further rumors become rampant. It's time to make the billionaire's fortune work for you. Politickr continues to doubt that the NYC mayor would seriously consider running against Hillary and Rudy in a three-way New York race for the White House. If, however, Rudy falters in the early primaries, bet big on Bloomberg. Either way, it's time to stock up on shares in the business mogul and realize some short term gains.