New York's Mayor Bloomberg cites financial crisis in bid for third term

Given the events of recent weeks and given the enormous challenges we face, I dont want to walk away from a city I feel I can help through these tough times, said the billionaire Mayor. Its not that people are indispensable; it is that people have put so much into this ... and every time I look around, I think theres so much more we can do.

The announcement by Bloomberg, who was elected as a Republican and later changed his party affiliation to independent, was followed later by one from City Council President Christine Quinn, a Democrat, who, implied she had reached a deal with the Mayor. She announced that legislation would be introduced this week to allow three four-year terms, instead of the current two terms, for the Mayor, other citywide elected officials and the 51-member City Council.

The Mayor, City Council President and numerous other public figures went through verbal contortions explaining why the term limits legislation they had previously backed was suddenly in need of amendment. Bloomberg had earlier said any attempt to circumvent the limits, which had been backed by citywide referendums in both 1993 and 1996, would be disgusting. Quinn had opposed the idea of changing the rules as recently as last December. Significantly, neither Bloomberg nor his allies are proposing a new referendum to achieve their aim.

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