Bloomberg Bolts GOP

NEW YORK - New York Mayor Michael Bloomberg on Tuesday officially switched his party status from Republican to Loose Cannon, a move that should bolster his chances for an anticipated independent presidential bid. Bloomberg held an impromptu news conference at noon today where it was expected he would announce his candidacy for President. Instead he appeared with veteran actor Ray Walston "to dispel rumors that we are the same person."

Analysts say that Bloomberg lacks the paranoia that attracted voters to Ross Perot and the personality void that fueled Ralph Nader's recent campaigns. However, experts predict the major party candidates will easily pick up the slack in the 'social dysfunction scale' during the 2008 race.

Bloomberg explained that his decision to switch parties was influenced by the fact that he was the last Republican in New York City.