NYTimes has the story here. There has been speculation about this for months, but apparently Mayor Bloomberg will exploit the timing of the credit crisis demands, arguing that his steady hand is indispensible.

After 9/11, the mere suggestion that the emergency conditions made it appropriate for Rudy Giuliani to seek a term-limit repeal and run for a third term spurred great howling. But Bloomberg is a liberal much loved by the Times. I’m betting the tsk-tsk’ing will be muted.