Shocking that Bloomberg could state that he is for term limits, while announcing he is intending to run for a third term anyway!
The financial crisis is the rationale that he gave for changing the term limits, and that it was too close to November to be put on the ballot for a third referendum to reject it again. Why would the the single instance of the credit crunch and Wall St implosion change the term limits law for time and memoriam? If there was desire for a third term, and a rationale for third terms it wouldn't change because of the last couple of weeks financial downturn.
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