Why Bloomberg Is Unlikely to Help the Moderates

Matthew Yglesias: “Michael Bloomberg’s renewed interest in running for president seems motivated in large part by intellectual and emotional hostility to the prospect of an Elizabeth Warren or Bernie Sanders nomination.”

“But — to the extent that the billionaire philanthropist manages to garner any support at all — the actual effect of him entering the race is likely to be the reverse: undermining frontrunner Joe Biden to some extent without materially damaging Warren or Sanders or having any realistic chance of winning himself.”