Bloomberg to Finance Massive Bailout

October 1, 2008 (GBN News): A source close to Mayor Bloomberg has told GBN News that the Mayor will soon announce what will be termed a “massive bailout” for elected officials. According to this source, Mr. Bloomberg is concerned over the number of Council members and other citywide officials who will lose their jobs next year due to term limits. The Mayor is prepared to spend “whatever it takes” of his own substantial fortune to prevent such public servants as Christine Quinn, William Thompson, Tony Avella and others from losing their livelihoods, and from having to compete for scarce jobs like "Mayor" in such difficult economic times.

The Mayor, according to this source, is so troubled over these impending job losses that he is willing to fund a massive effort to overturn term limits, even if it means that he has to sacrifice his own retirement and remain in office. “A lot of people are having to postpone their retirements due to the meltdown of the economy”, Mr. Bloomberg is said to have told his aides in an emotional meeting. “But just like them, I’m willing to suck it up and continue working.”

In a related story, Mr. Bloomberg is said to be planning to trim the city’s election budget by soliciting private funding to finance it. He is even prepared to pay for the election himself, sources say. However, critics are likely to contend that this does not represent any particular change from the past two Mayoral elections.