Former New York Mayor Michael Bloomberg Considering Presidential Campaign: Report

Former New York City Mayor Michael Bloomberg is considering a run for the Oval Office, according to reports.

The billionaire politician has requested that his advisers create plans for a potential independent campaign, the New York Times reports, adding that Bloomberg is jarred by Donald Trump's command of the Republican ticket, and unsettled by Hillary Clinton's missteps on the Democratic side.

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"I'm listening to what candidates are saying and what the primary voters appear to be doing," Bloomberg told the Financial Times. "I find the level of discourse and discussion distressingly banal and an outrage and an insult to the voters."



Although Bloomberg would rival Trump's stance as being the only candidate rich enough to finance his own campaign, the former mayor could actually prove to be a bigger threat to Democrats as his position is liberal on the issues of gun control and the environment, the Financial Times reports.

Trump has reportedly welcomed Bloomberg's entry, but Democratic candidate Bernie Sanders has called it a move "away from democracy to oligarchy."

According to the NYT, Bloomberg, 73, would be willing to put up $1 billion of his own fortune towards a campaign and has set a personal deadline of early March to make his final decision.