via the NY Times

After months of speculation about his political future, Mayor Michael R. Bloomberg plans to announce on Thursday morning that he will seek a third term as mayor, according to three people who have been told of his plans.

The extraordinary move promises to upend New York City’s political world. 

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In his announcement, Mr. Bloomberg, a former Wall Street trader and founder of a billion-dollar financial data firm, is expected to argue that the financial crisis unfolding in New York City demands his steady hand and proven business acumen.

The move represents an about-face for Mr. Bloomberg, who has repeatedly said he supports term limits and once called an effort to revise the law “disgusting.” He will apparently try to do so through legislation in the City Council, rather than the ballot box.

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