News Copy, New York

McCain and Obama Both Want Bailout

Both Barack Obama and John McCain want Congress to approve the bailout, reports Reuters.

Why do I feel as though the Presidential election just became irrelevant?

Bloomberg Wants Third Term

The New York Times calls it "The Limits of Term Limits"

"Term limits are seductive, promising relief from mediocre, self-perpetuating incumbents and gridlocked legislatures. They are also profoundly undemocratic, arbitrarily denying voters the ability to choose between good politicians and bad, especially in a city like New York with a strong public campaign-financing system, while automatically removing public servants of proven ability who are at a productive point in their careers."

Mike likes being mayor, reported NY1 and the Associated Press.

I don't like term limits either -- but it sure was fun seeing the political machines scurrying around to find new blood every few cycles.  It was good for the political parties but a shame to show good experienced lawmakers the door.

Dan Janison of Newsday took a more skeptical view.

"The Bloomberg camp and the Council were cooking up this coup well before the plunges of Fannie Mae, Freddie Mac, Lehman, Merrill, AIG or WaMu. What will Bloomberg do about a recession from City Hall, anyway? Hike property taxes? Sell computer screens to watch the next Dow crash?"

Elizabeth Benjamin of the New York Daily News blog, The Daily Politics, reported New York City Councilman Bill de Blasio saying that "the people" and not the Council or the mayor should have the final say on term limits.