New York Mayor Michael Bloomberg announced on Thursday he will seek changes in the city's term limits law so he can run for a third term in 2009.
The former Wall Street trader and self-made billionaire believes that the financial crisis demands a leader of his business acumen.
Voters imposed limits of two four-year terms on elected city officials in 1993 and reaffirmed the vote in 1996.
But Mr Bloomberg will ask the city council to extend the limits to a third term.
