Mike Bloomberg has done an about-face on Wall Street reform

By Sheila Bair (original source Yahoo Finance)

Can a leopard change its spots? That is the central question hanging over Michael Bloomberg’s candidacy for the Democratic presidential nomination. He has spent nearly a half billion dollars of his personal fortune on a massive advertising campaign and raft of policy proposals designed to show he is a man of the people.

Unfortunately for his campaign, when voters got their first chance to see him live at last week’s presidential debate, he did not perform well. He failed to adequately explain or atone for a litany of past statements and positions cited by opponents that suggest he is a rich elitist with troubling views toward women and minorities. He will get another chance at tonight’s debate, but credibly distancing himself from his past record will present a formidable, if not insurmountable, challenge.

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