Right now, Mr. Bloomberg is barred by law from seeking re-election. But he will propose trying to revise the cityâ€™s 15-year-old term limits law, which would otherwise force him and dozens of other elected leaders out of office in 2009, the three people said. In his announcement, Mr. Bloomberg, a former Wall Street trader and founder of a billion-dollar financial data firm, is expected to argue that the financial crisis unfolding in New York City demands his steady hand and proven business acumen
Here is another example of a Politician who thinks only he can can run the office the way it should be. He was all for term limits until it was his time to step away and let someone else be mayor of New York. You see this with leaders all over the world.