Wall Street executives are nervous — not just about the Chinese economy but here at home, and the battle for 2016 looks stacked against them.
On the Democratic side, the senator from Wall Street is losing ground to Wall Street’s arch-nemesis, Bernie Sanders. On the Republican side, unguided missile Donald Trump, who promises to raise taxes on millionaires and billionaires, leads the pack. Ted Cruz, no friend of Wall Street either, is close behind.
So several financial titans have been making calls to the only man they believe can save them: Michael Bloomberg. And, as first reported by The New York Times, Bloomberg is flattered.
He’s so flattered, in fact — or is it so bored? — he’s already dispatched aides to cobble together a strategy on how to run as an independent candidate for president in 2016, in case Trump and Sanders, or Cruz and Sanders, become the major party nominees. And he’s indicated he’s willing to spend $1 billion of his own money.
Just what we need in this already wild 2016 campaign: one more candidate!
But actually, the three-term former mayor of New York City has a lot more to offer than most of the other candidates in the race. He’s got the money, the desire, the airplane and 12 years of executive experience.
A former member of both parties, he has both conservative and liberal credentials. He’s close to Wall Street, but he’s also pro-choice, pro-immigration rights, and the leading advocate of gun control. Most people give him high marks as mayor, with the exception of his ‘stop and frisk’ policy.
Even before making a decision, Bloomberg has already achieved what is probably his primary goal: He has everybody talking about him again, speculating on whether or not he could win or, more likely, which nominee, Democrat or Republican, he would hurt the most. As a moderate to liberal, I believe he’d draw more votes from Sanders and thereby help Trump or Cruz win the grand prize.
Until Bloomberg actually hires a team, puts his money on the line, and makes an announcement, there’s no reason we should take him seriously.