Yesterday's party affiliation announcement by New York Mayor Michael Bloomberg has sent the blogs, the MSM, and political junkies everywhere into a frenzy of speculation. Having been a life-long Democrat prior to his Republican conversion makes both sides nervous, and will likely send every 2008 Presidential campaign back to their strategy discussions.
Will Bloomberg draw more votes from Republican voters, with whom he has been more recently allied? Or will his Democratic history and liberal leanings on some issues disproportionately siphon frustrated moderates away from the Democratic nominee? No one knows, and the only certain thing is that his personal wealth allows him to mount a credible candidacy without any party backing.
With his net worth estimated at $5B, a Bloomberg presidential candidacy is a curve ball to both sides, presenting risks that neither party quite knows how to manage. And in that uncertainty lies a hidden opportunity that progressives should recognize and embrace. More on the flip...
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