Oct 1, 2008 6:33 am US/Eastern
Report: Bloomberg Wants 4 More Years
Mayor Expected To Cite His Business Experience, Wall Street Financial Crisis As Reasons To Push For 3rd Term
City Comptroller Thompson: Democracy Is Bigger Than One Man
Reporting
Lou Young
NEW YORK (CBS) ―
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Mayor Michael Bloomberg is expected to try to fight city laws for the right to run for a third term in office.
AP
The New York City mayoral term limit could be the next victim of the ongoing financial crisis. According to various reports, Mayor Michael Bloomberg will seek a suspension of the term-limit law and announce he will seek a third term, a subject he has danced around for some time.
Bloomberg will reportedly make the announcement Thursday morning, citing his business experience and the financial crisis on Wall Street as reasons to stay on the job.
But it's a risky venture. Following the Sept. 11, 2001 terror attacks, former Mayor Rudy Giuliani floated the idea of a three-month extension, but ultimately decided against it. Even in the wake of the attacks, with Giuliani's approval rating at 90 percent, one poll found that 55 percent of New York City voters opposed repealing term limits.
Other mayors who have served three terms are Fiorello H. La Guardia, Robert F. Wagner and Edward I. Koch.
Voters have twice – 1993 and 1996 -- approved the city term limit law in a city-wide referendum. To make an exception for Bloomberg now, without another referendum, would require the action of the City Council, something many public officials, including City Comptroller Bill Thompson – a mayoral hopeful himself – said they were vehemently opposed to.
CBS 2 HD caught up to Thompson on Tuesday. He said no matter Bloomberg's success and popularity, democracy is more than one man.
"It's a terrible idea. This isn't about a person," Thompson said. "I think the city had done quite well with the new leadership that took office in January 2002. This isn't about us, it's about the people of New York City. No, other leaders could move this city ahead well also."
Bloomberg is expected to ask the City Council to make a new rule allowing another run.
That begs the question: Would the Council actually go along?
"I think with Mike Bloomberg pushing it there could be support in the Council but not from me," City Councilman John Liu said.
And not from a lot of politicians who've had their eye on new jobs, like the one Bloomberg now has.
Thompson said Bloomberg should ask the voters.
"It's just an end-run around the people. It is undermining the will of the voters of New York City," Thompson said.
New York City's last three-term mayor told CBS 2 HD on Tuesday night that Bloomberg doesn't want to do away with limits. He just wants to stretch the one he now faces.
"I'm for term limits. The change would be having three terms instead of two terms," former Mayor Koch said.
There has reportedly been a division inside the Bloomberg administration as to whether or not the mayor should seek a third term, whether or not it would tarnish his political legacy.
Bloomberg reportedly decided to do this, after getting green light from Ronald Lauder, the billionaire cosmetics heir who pushed through the city's term-limits law. Lauder was apparently willing to make a one-time exception so Bloomberg could run again.
"I've been reading that Mayor Bloomberg might be interested in serving a third term," Lauder told the New York Post in Tuesday's editions. "Because of the unprecedented times, this is welcome news. To me, Mayor Bloomberg's brilliance in the financial sector, particularly Wall Street, would be invaluable."
But so far the reaction from politicians has not been favorable. The same cannot be said for everyday New Yorkers. They seem largely pleased with the idea of Bloomberg sticking around another four years.
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I think he has correct business approach for the economy in New York City," said Olana Greene of Coney Island.
"I think it might bring some stability in a pretty tedious time," added Lois Marsh of Staten Island.
Bloomberg, a Democrat-turned-Republican-turned-Independent, has long been a staunch supporter of the term-limits law but had hinted in recent months that he'd be willing to overturn the measure.
News of his change of mind was first reported by The New York Times, which said he changed his mind because he believes the financial crisis roiling Wall Street demands a leader with his strong business expertise. A former Wall Street trader who founded the multibillion-dollar financial data firm Bloomberg LP, the mayor is reported to be worth an estimated $20 billion.
Bloomberg's change of heart comes amid the nation's worst economic crisis since the Great Depression. The turmoil has dealt a serious blow to the city's economy, which relies on heavily on Wall Street profits for its tax base.
But any change in the law – even for a mayor who has been largely successful during his two terms -- would send shock waves through the ranks of the city's politicians, many of whom have been campaigning for different jobs, including Bloomberg's. The law currently on the books will force the mayor from office at the end of next year, as well as the city comptroller, two-thirds of the city council and the city's public advocate.
Democrats lining up to run include city comptroller Thompson, city council speaker Christine Quinn, Rep. Anthony Weiner and city councilman Anthony Avella. On the GOP side are supermarket magnate John Catsimatidis and lawyer Bruce Blakeman.
Please stay with CBS 2 HD and wcbstv.com for more on this developing story.
(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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