Is There Any Rationale For a Bloomberg Candidacy?

The case against Michael Bloomberg’s presidential run seems strong.

He’s a political chameleon, who went from Democrat to Republican (in order to find a place on the New York City ballot in 2001) to Independent to Democrat (again).

He spent a lot of money in politics. Some of it helping Republicans, such as Pennsylvania Sen. Pat Toomey.

He’s the poster child for political excess, having dropped a quarter of a billion dollars—that’s billion, with a “b”—in his three mayoral campaigns and having just launched his presidential bid with a $34 million buy, promising—or threatening—to spend a another billion.