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Mayor Michael Bloomberg has decided to try to reverse the term-limits law he had long supported so he can seek a third term next year and help the city emerge from financial turmoil...
The billionaire former CEO will cite the nation's precarious economic situation as the reason that New York needs a tested financial manager to stay and guide the city, the person said.
If re-elected, Mr. Bloomberg, a billionaire and a longtime Democrat who became a Republican to run for mayor in 2001 but declared himself an independent last year, would be only the fourth mayor in the city’s modern history to serve a third term.