WASHINGTON (AP) — There are many questions surrounding Michael Bloomberg's potential presidential candidacy, but whether he'll have enough money to sustain a lengthy and bruising campaign is not one of them.
The billionaire former New York City mayor opened the door this week to a potential Democratic White House bid, prompting an avalanche of criticism from would-be rivals who say he wants to use his vast wealth to buy the presidency.
Progressives who believe the wealthy have outsized influence in politics have pushed Democratic presidential hopefuls to reject big money in politics — and they've had considerable success. So far, the cash race has been celebrated as a triumph of small-dollar grassroots contributors, who have fueled the campaigns of Sens. Bernie Sanders and Elizabeth Warren, over big-dollar donors in the Democratic establishment.