Michael Bloomberg as U.S. president
FROM FAR AND NEAR - Ruben Almendras (The Freeman) - November 27, 2018 - 12:00am

In an earlier banking career, I ran the treasury department of a major commercial bank. I became treasurer and investment banker so I was/am familiar with Bloomberg Financial Data Services. Before Bloomberg LP dominated the market in early 1980s, there was Reuters Thompson, but as computer technology and the Internet was not yet available, we were all getting one or two-day old financial data via Telex and later by Fax.

By 1990, Bloomberg L.P was able to provide real time financial market data from markets all over the world in stocks, bonds, treasuries, commodities and all money market instruments all of them viewable in your computer and printable. One can get a Bloomberg Terminal for $2,000/month that will give you all these financial data and even place a trade. But unless you are managing a portfolio of at least $20 million you just have to be content with Bloomberg TV channel and the downloadable Bloomberg data. This made Bloomberg a billionaire in 1990.

Some months ago, I watch a CNN interview of Michael Bloomberg, and I have never seen and heard a politician/businessman who made so much sense, a man of correct values and temperament. Last week he was in the news for donating $1.8 billion to his alma mater, the John Hopkins University. This was on top of the $1.5 billion that he had donated years before and the $5 dollars he had donated when he graduated with an engineering degree in 1964. He is one of the billionaires that had signed up to donate 90 percent of their wealth within their lifetime, along with Bill Gates and Warren Buffet, so he had supported and donated more billions to charities and advocacies for education, medical, environmental and other concerns.

Bloomberg has an MBA from Harvard University and worked for Salomon Brothers which is a top investment bank in the U.S. When the company was acquired, he lost his job but left with $10 million worth of stocks in the company. It was then that he put up Bloomberg LP to provide the most complete/exhaustive financial data services to the banking and financial services industry in real time, that he always wanted to have while working as an investment banker in Salomon Brothers. By the year 2000, he became a billionaire and in 2009 was worth $16 billion, and in 2018 was worth $50 billion and the 6th richest man in the U.S. He became Mayor of New York City in 2002, was reelected twice up to 2012 and went back to Bloomberg LP as CEO up to today.

After his successful stint as NYC Mayor, Bloomberg have always been in the horizon for a national office including the Presidency. In 2012, there were moves to draft him but his links to the Republican and Democrats were not strong enough even if he had been a Democrat and a Republican in his political affiliation. In 2016. His name also came up for a presidential draft, but considering the crowded field at that time in both parties, there was no opportunity for Bloomberg to get in the race with a good chance of winning. This early his name is again in the horizon for the 2020 Presidential election and if favorable events conspire, he could be the Democrats presidential candidate.

The current divisive political environment in the U.S. and the loss of leadership and prestige of the U. S. in the world is a call for an intelligent, seasoned, and manager/leader with the right values and ethical standards. The senseless shootings happening all over the U.S., the resurgent racism, trade protectionism, the unreasonable patriotism is demeaning the “liberty and equality” principles of the founding fathers. America is losing its direction as a democracy. These are times that try men’s souls, and these are times that men like Bloomberg should be President.

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