Bloomberg Run Gains Credibility
$1 billion set aside for a campaign can't hurt
By Max Brallier,  Newser User
Posted May 17, 2007 3:35 PM CDT
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(Newser) – The New York mayor is looking more and more like presidential material, reports the NY Observer. What started as speculation fueled by Bloomberg's own aides has become the buzz of a conference of mayors in New York this week. And why not? The Washington Times reports that he's ready to spend $1 billion of his own money on a presidential bid.

"He has set aside $1 billion to go for it," a long-time business adviser tells the Times. That would represent about a fifth of Bloomberg's personal fortune. In a speech to the mayors, assembled to discuss global warming, he faulted the federal government on the foolishness of having an Iraq policy but not an energy policy.