Dysfunctional US congress passes stupid bill today

mmpleaser

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America is burning but Michael Bloomberg can put out the fire

William Ackman

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Never has an independent candidate with his achievements run for office, writes William Ackman
FILE - In this Dec. 3, 2015, file photo, former New York Mayor Michael Bloomberg speaks during the C40 cities awards ceremony, in Paris. Bloomberg is taking some early steps toward launching a potential independent campaign for president. That's according to three people familiar with the billionaire media executive's plans. They spoke on condition of anonymity because they weren't authorized to speak publicly for Bloomberg. (AP Photo/Thibault Camus, File)
©AP

Michael Bloomberg, former mayor of New York
C

onsider one of the greatest businesses in the world after decades of mismanagement. Growth is tepid, at best, and has been fuelled largely by debt. The organisation’s systems and infrastructure are outdated. International competitors have taken advantage of its weak position and stolen market share. A proxy contest is looming. The chief executive is about to step down, and the board and shareholders are faced with a decision about leadership. Who should they appoint? What qualities should they seek?

A turnround requires a leader with exemplary character, intelligence and independence, with a demonstrated record of success. It needs someone who can recruit extraordinary people, who understands the details yet knows how to delegate, negotiate and compromise. In short, a leader who commands respect from employees, the board and the shareholders.

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After 9/11, New York needed such a leader. When Michael Bloomberg was sworn in as mayor on January 1 2002, the city was burning — literally. Our economy had crashed and public finances were shot. New Yorkers were scared and depressed.

But in only a few years, Mr Bloomberg created tens of thousands of jobs, converted a $6bn deficit into a multibillion-dollar surplus and made New York one of the safest cities in the world. He promoted development, improved public education, enhanced our infrastructure, cleaned up our parks, reduced the city’s carbon footprint and greatly contributed to the health of its citizens.

He did not do it alone. He did it by recruiting top talent to city government, working with other politicians and motivating the existing workforce and inspiring our citizens to do their part.

Today America is burning. Our government is wasteful and dysfunctional. Our national debt exceeds our gross domestic product. Our bridges, roads, airports and tunnels are crumbling. Our school system fails to educate our children. Our middle class is shrinking. Our tax code drives our most profitable businesses to relocate to foreign jurisdictions. Our immigration laws force talented young scientists and entrepreneurs to competitor nations. Our incomprehensible regulations fail to protect us from fraud, crime, pollution and abuse of power, while stunting growth and impairing our global competitiveness. Our international standing has deteriorated. Our enemies no longer take our pronouncements seriously and our military supremacy is threatened. The American dream is fading.

Yet there is hope. The key is finding the right leader. And that leader is Mr Bloomberg, who told the Financial Times this week that he is considering joining the race for the White House. His character is unimpeachable and he is an extraordinary entrepreneur and philanthropist. He has great judgment and is beholden to no one. He has a proven business record, having created $40bn of value building one of the most successful media and information technology companies in the world.

Bloomberg considers joining race for the White House
FILE - In this Dec. 3, 2015, file photo, former New York Mayor Michael Bloomberg speaks during the C40 cities awards ceremony, in Paris. Bloomberg is taking some early steps toward launching a potential independent campaign for president. That's according to three people familiar with the billionaire media executive's plans. They spoke on condition of anonymity because they weren't authorized to speak publicly for Bloomberg. (AP Photo/Thibault Camus, File)

Media billionaire’s entry would reshape campaign

After a 12-year stint as mayor of New York, he has a demonstrated record in government too. He is a globalist, having immersed himself in foreign policy and used effective philanthropy to address international problems. Because he is pragmatic and non-ideological, he gets along with everyone. And he is prepared to make tough decisions based on the facts, without regard for his re-election prospects or obligations to a party and big-money donors.

If Mr Bloomberg were to run for president, he would do so as an independent. Some commentators say history shows that independents or third-party candidates cannot win. But today, according to one poll, 43 per cent of Americans identify as independents, which is a record. And never before has an independent presidential candidate with Mr Bloomberg’s achievements and financial resources run.

FT Debates

Join the discussion on whether Bloomberg should run for president

Significantly, Mr Bloomberg would not need a plurality of votes to win the presidency. If no single candidate receives an overall majority in the electoral college, the 12th Amendment to the US constitution allows the House of Representatives to choose the president from among the three candidates who received the most electoral votes.

If the top three are, say, Mr Bloomberg, Donald Trump or Ted Cruz for the Republicans, and Hillary Clinton or Bernie Sanders for the Democrats, then Congress, which is under Republican control, would surely choose Mr Bloomberg rather than destroy the party by selecting Mr Trump or Mr Cruz.

It is time to put the fires out and restore the United States to greatness. Mr Bloomberg is the right choice.

mmpleaser

Sorry above should be posted to another thread.