If Bloomberg gets to run third term will Bush ?

Wouldn't this start a pretty scary precedent ?

Bloomberg Called Ready to Announce Third-Term Bid

After months of speculation about his political future, Mayor Michael R. Bloomberg plans to announce on Thursday morning that he will seek a third term as mayor, according to three people who have been told of his plans.

Right now, Mr. Bloomberg is barred by law from seeking re-election. But he will propose trying to revise the city’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.

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http://www.nytimes.com/2008/10/01/nyregion/01bloomberg.html?...