Bloomberg: I Don't Want to Walk Away

Michael Bloomberg is officially seeking a third term to rescue New York from "meltdown" in the financial crisis, the Daily News reports. “I don’t want to walk away,” the mayor said in explaining why he intends to rewrite city rules despite thinking “term limits is a good idea.” Asked if he's motivated by ego, Bloomberg replied, “I don't think so.”

“The consequences for New York City are very real. The $700 billion bailout is not a magic bullet. We may well be on the verge of a meltdown,” said Bloomberg, who didn't say which party he would represent. “I plan to ask New Yorkers to look at my record … and then decide if I've earned another term.” (More Michael Bloomberg stories.)