'New York Mayor Michael Bloomberg's quest for a third term may signal a turn against the term-limits enacted around the country in the early nineties.
It is a woman's prerogative to change her mind -- or so the saying goes. But in New York City politics these days, it seems that middle-aged male billionaires are the ones flip-flopping down the avenue.
After months of coy flirtation with the idea of a third term, Mayor Michael Bloomberg formally announced in October that he would ask the city council to amend New York's charter to allow all sitting and future mayors and council members to serve three terms. No matter that Bloomberg heartily endorsed the two-term limit in the past, before it was clear that he wouldn't be running for president. The financial crisis, Mayor Mike now argues, is poised to ravage New York City's economy, and only a former investment banker like himself can be trusted to deal with the fallout from the problems created by, er, investment bankers.'
http://www.prospect.org/cs/articles?article=third_terms_a_charm