Newsweek is reporting that New York CIty Mayor Michael Bloomberg is looking at a third party bid for an ‘08 presidential run. According to Newsweek and MSNBC,

Privately, Bloomberg and political adviser Kevin Sheekey are meeting with pollsters and consultants to assess the mayor’s chances as a third-party, independent candidate. “There is no Bloomberg campaign,” Sheekey tells NEWSWEEK. “But we have certainly reached out.” At a dinner last year with Al From, founder of the centrist Democratic Leadership Council, Bloomberg was candid and self-deprecating, wondering what chance a 5-foot-7, divorced Jew has in the celebrity-sweepstakes presidential contest.

The answer is that it depends on who the nominees are for the two major parties, and how much cash Bloomberg is willing to spend. The money part is easy for a self-made media mogul. “He could spend $500 million in a campaign and not even think about it,” says From. But he’d probably do it only if buyer’s remorse sets in among the voters. Because the primary process is so front-loaded this cycle, the winners will be known in early February, leaving nine months until the election for voters to get antsy. “He won’t say anything until March of next year,” says a former aide privy to the early discussions who didn’t want to be named talking about them. “The guiding philosophy is who the Democratic and Republican nominees are, and the mood of the country once they know who those two people are.”

The big question is which of the leading candidates presents a vulnerability that Bloomberg thinks is worth running to win. That speculation should fuel blog chat. In a perfect world, it would be Hillary for the Dems, Rudy for the Republicans and Bloomberg for America. That would make it an all NY ‘08 race. And why not?
Source:Newsweek, Bloomberg: The Waiting Game: His billions allow Mayor Mike to enter the ‘08 race late, By Eleanor Clift, March 12, 2007