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He made the announcement Sunday on NBC's Meet the Press, saying most Americans are disenchanted with both the Democratic and Republican parties.
He is still loathed by many Democrats, who call him a spoiler and claim his candidacy in 2000 cost their nominee, Al Gore, the White House because it siphoned away votes in the razor-thin contest in Florida.
In the 2000 race, Nader received 2.7 per cent of the national vote as the Green Party candidate. His tally dropped to just 0.3 per cent as an independent in 2004, when he appeared on the ballot in only 34 states.