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Why Isn't Michael Bloomberg Running For President? His Announcement Gives Us A Few Clues

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It was over before it began. In a fascinating statement published this week at Bloomberg View, long-serving American politician and billionaire businessman Michael Bloomberg announced why he wouldn't run for president. Bloomberg had waffled back and forth about the decision in the previous weeks, but ultimately said a run at the White House was not in the cards. The impassioned statement, in which Bloomberg explained that he can't realistically win the election, ultimately amounted to an acerbic condemnation of Republican frontrunner Donald Trump.

Bloomberg, who served for 12 years as the mayor of New York City, expressed his appreciation for those that have urged him to run as an Independent, and he highlights his commitment to public service. "But when I look at the data, it’s clear to me that if I entered the race, I could not win," he wrote in the statement.

He further argued that if he had run as an Independent, it would have become a three-way race between himself and the Republican and Democratic candidates. In this scenario, Bloomberg said, "it’s unlikely any candidate would win a majority of electoral votes, and then the power to choose the president would be taken out of the hands of the American people and thrown to Congress." From there, Bloomberg explains, either the Republican or Democratic candidate would be awarded the presidency because congress would vote along party lines.

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PARIS, FRANCE - DECEMBER 04: Former Mayor of New York City, Michael Bloomberg attends the Summit of Local elected for Climate at the Paris city hall on December 04, 2015 in Paris, France. Thousand mayors from different cities gather at the Paris city hall during the COP21, Paris Climate Conference. (Photo by Thierry Chesnot/Getty Images)

And here's where Bloomberg pivoted from a well-reasoned description of the unlikelihood of him becoming president to an all-out denunciation of former reality TV star Donald Trump, along with a condemnation of Texas Sen. Ted Cruz:

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PARIS, FRANCE - DECEMBER 04: Former Mayor of New York City, Michael Bloomberg and Mayor of Paris, Anne Hidalgo pose with thousand mayors from different cities at the Paris city hall during the Summit of Local elected for Climate at the Paris city hall on December 04, 2015 in Paris, France. Thousand mayors from different cities gather at the Paris city hall during the COP21, Paris Climate Conference. (Photo by Thierry Chesnot/Getty Images)

These are truly fighting words coming from a man who was once described by New York Magazine as speaking in a "standard phlegmatic monotone." Bottom line, the man's known for his stoicism—The New Yorker once argued that he should be known as "the stoic face of leadership." Given all this, it really says something when Michael Bloomberg, the man of the unemotional facade, comes out with such pizazz against Trump.

And it's not like Bloomberg is one to eschew the opportunity for power. Indeed, The New York Times reported that the real estate billionaire has spent the past several months laying "the groundwork" for a presidential bid, setting up the details of a "long-shot billion-dollar campaign that would have subjected his image to a scorching political test." According to The Times, Bloomberg and his advisors even conducted polls in 22 states, set up a website, and produced campaign ads.

It's somewhat ironic that Bloomberg is bowing out of the race under the rationale that his presence might result in Congress—not the American voters—selecting the next president. It was Bloomberg, after all, who won the third term of his NYC mayorship by reportedly shady means. In 2009, when Bloomberg's second term was coming to an end, he repealed the law that placed a limit of two terms on the mayorship. According to The Wall Street Journal, this was "the most controversial move" of Bloomberg's mayoral tenure.

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NEW YORK, NY - DECEMBER 01: Former New York City Mayor Michael Bloomberg attend the L'Oreal Paris Women of Worth 2015 Celebration - Arrivals at The Pierre Hotel on December 1, 2015 in New York City. (Photo by Neilson Barnard/Getty Images for L'Oreal Paris)

And now, this same Michael Bloomberg is bowing out of an election because he fears it won't be left in the hands of voters. Fair enough, though The New York Times characterizes the situation thusly:

Still, the heightened rhetoric of Bloomberg's statement does suggest that his disdain for Trump is real, and that he legitimately doesn't want to risk being at fault for a Trump presidency. He even goes so far as to characterize both Trump and Cruz as candidates who would "weaken our unity and darken our future" if elected.

Touché, Bloomberg. Touché.