Bloomberg Will Not Run for President

Michael Bloomberg officially decided on Monday that he would not enter the presidential race, fearing that it could backfire and lead to a win by Republican frontrunner Donald Trump or second-place Ted Cruz. "As the race stands now, with Republicans in charge of both Houses, there is a good chance that my candidacy could lead to the election of Donald Trump or Senator Ted Cruz," Bloomberg wrote in a statement. "That is not a risk I can take in good conscience." He also assailed Trump for running a "divisive and demagogic presidential campaign."