Mayor Michael Bloomberg switched from Republican to unaffiliated

New York Mayor Michael Bloomberg switched his party status from Republican to unaffiliated, a stunning move certain to be seen as a prelude to an independent presidential bid that would upend the 2008 race. The billionaire former CEO, who was a lifelong Democrat before he switched to the GOP for his first mayoral run, said the change in voter registration does not mean he is running for president. Despite his coyness about his aspirations, the mayor's decision to switch stokes speculation that he will pursue the White House, challenging the Democratic and Republican nominees with a legitimate and well-financed third-party bid.

Bloomberg has an estimated worth of more than $5 billion and easily could underwrite a White House run, much like Texas businessman Ross Perot in 1992. Bloomberg spent more than $155 million for his two mayoral campaigns, including $85 million when he won his second term in 2005. The 65-year-old mayor has fueled the presidential buzz with increasing out-of-state travel, including New Hampshire last weekend; a greater focus on national issues and repeated criticism of the partisan politics that dominate Washington.