Can Michael Bloomberg Be Taken Seriously?

With the presidential primaries heating up, more and more second and third tier candidates are dropping out. Don't tell that to New York City Mayor Michael Bloomberg. Just as many candidates are putting the brakes on their campaign, Bloomberg is exploring an independent bid for the White House.

Conventional wisdom says that it's too late for anyone entering the race to make much of an impact, but there is little that is conventional about Bloomberg.

Where fund raising is a major issue for the current crop of candidates, Bloomberg has his own billion dollar fortune that he would likely tap if he makes a run for the White House. He has already heavily invested in a highly detailed national voter study of his chances for success.

Well-known third party candidates have a history of pulling votes away from major party candidates, so Bloomberg's flirtation with running for office may have a major impact on the election. As a former Republican, but with liberal social views, Bloomberg could draw from fiscally moderate conservatives. He has also shown conservative leanings in his support for the Patriot Act and the war in Iraq.

However, his liberal social leanings could damage his conservative appeal. Bloomberg supports abortion rights, gay marriage and stem-cell research, all of which are hot-button topics for evangelical voters. With his liberal social stance and conservative stance on national security issues, Bloomberg could either alienate both parties or could draw a wide range of support across party lines.

As fiscal moderate, he could do well if the economy slides further into recession. Recent polls indicate that the economy has overtaken the war in Iraq as the one issue that most concerns likely voters. Current social and economic conditions could create a perfect storm that would allow a third party candidate to make a close run for the presidency.