Bloomberg's Party Switch May Alter Presidential Race
New York Mayor Michael Bloomberg's switch to independent from Republican may have a significant impact on next year's presidential election, according to three experts.
Bloomberg has not said whether he would run for president, but the switch in party affiliation has fueled speculation that he will.
"There certainly is a track record of third-party candidates influencing the race," said CNBC Chief Washington Correspondent John Harwood on "Morning Call," citing Ross Perot in the 1992 election where Bill Clinton defeated George H.W. Bush.
As to why Bloomberg dropped out of the Republican party, "he would have a very hard time winning the Republican nomination," said Andy Laperriere, political analyst at ISI Group Managing Director. "I think maybe that's putting a positive spin on it. I think he would have almost no chance of winning."
CNBC's Dylan Ratigan agrees that Bloomberg will have tough times with the election, though he is positive Corporate America and Wall Street would love him.
Bloomberg understands Wall Street and is "part of the Wall Street culture," Ratigan said. "This is somebody who is, effectively, one of them."