Bloomberg to sit this one out

Finally, we get an announcement from New York Mayor Michael Bloomberg that he won't run for President as an independent this election.

The timing of this announcement makes me wonder, though: is Obama's increasingly inevitable-looking lead the deciding factor here? It's an intriguing theory, but I think he would've done equally miserably in a McCain-Hillary election as he would in a McCain-Obama election.

Maybe if it had been like Paul - Kuchinich, Bloomberg's plan would've made sense. In basically any other scenario though, it seemed like a Steve Forbes-esque vanity run.