While getting ready to go the office this morning and watching a little blurb about this on Fox, my wife responded with a very sincere, “...who is Michael Bloomberg?” She genuinely had no clue who he was. This is a great example of what the national response will be.
At first.
In the 1880s, most of the country would have asked, "what is Coca-Cola" Then they advertised, and now it's the most famous brand in the world. If Bloomberg decides to run, he could air ads in all 50 states, in every media market, the next day.
The major candidates are looking at $200 million, at most, should they get the nomination and go on to the general election. Bloomberg could spend that before finishing his breakfast. And the FEC tracks donations and loans -- it has nothing to say about how a candidate spends his own money.
Don't get me wrong. I'm not saying that a billionaire can buy the presidency. Ross Perot and Steve Forbes tried and failed. But his money makes him a factor. He has weight to throw around, and he will not be a non-entity. He will not win the race, but he could swing it.
Personally, I think these "bipartisan summits" are a sham. Bloomberg is asking for measures that would help NYC, and he's using his threat to run to squeeze promises out of the candidates who actually have chance to win.
Bloomberg is a nominal Republican holding office in a solidly blue state where neither party's candidate will spend much time. NY has no pull on candidates in the general election. Bloomberg's threat to run as an independent is all the pull he has.