Podcast Summary: "President Mike?"

The New Yorker Radio Hour | Hosted by David Remnick
Aired: March 2, 2020

Episode Overview

In this episode, David Remnick explores the presidential ambitions of Michael Bloomberg, the billionaire former mayor of New York City, who launched a self-financed, high-spending campaign for the Democratic nomination. Remnick is joined by Eleanor Randolph (author of The Many Lives of Michael Bloomberg) and Andrea Bernstein (WNYC reporter and author), both of whom provide deep, critical insights into Bloomberg’s record, his motivations, and the implications of his vast personal wealth in American politics.

Key Discussion Points & Insights

Bloomberg's Late Entry and Motivation

• Initially Reluctant: Bloomberg had decided not to run for president as late as June 2019, partly due to concerns about age and a reluctance to "go on an apology tour" for past policies.
  • "He said he didn't want to go on an apology tour. You know, he wasn't gonna apologize." — Andrea Bernstein, [01:47]
• Changed Mindset: Persuaded by his own perception of good health and encouragement from friends to re-enter politics.
  • "He told his friends that people were calling him all the time and telling him he needed to get in." — Andrea Bernstein, [02:37]

The Nature of Bloomberg’s Campaign

• Plutocratic Campaign: Bloomberg’s campaign characterized by unprecedented self-financing, with an ad blitz across TV and digital media.
  • "One gigantic ad buy... a self-financed coast to coast barrage of TV commercials worth hundreds of millions of dollars." — David Remnick, [00:28]
• Debate Performance: When appearing publicly at debates, the contrast with his tightly-managed image was stark ("as if someone had ripped back the curtain on the wizard of Oz" — Remnick, [00:44]).

The Role of Money in Winning Office

• Buying Influence: Bloomberg’s electoral success in New York is directly connected to his enormous personal financial investment.
  • "He spent over $70 million the first time he ran for mayor, which was shocking..." — Eleanor Randolph, [03:45]
• Comparisons: Cumulative campaign spending across three mayoral runs exceeded a quarter-billion dollars.

Authenticity of Political Alignments

• Bloomberg and Obama: Despite his campaign’s attempt to align himself closely with Barack Obama, insiders suggest he held "incredible contempt for Barack Obama as a politician in many ways." — David Remnick, [04:26]
• Purpose of Advertising: Most of Bloomberg’s ads are as much about attacking Trump as about promoting himself; softening opposition for any eventual nominee.
  • "Most of those ads… they're designed to soften Trump up and to make sure that whoever the Democratic nominee is, that person will have an easier go." — Andrea Bernstein, [05:17]

Potential Post-Primary Actions

• If not the nominee, likely to redirect resources to Senate races, especially if Sanders prevails, out of concern for the Democratic party’s down-ballot strength.
  • "If he's not the nominee and that Bernie is the nominee, he will start focusing on the Senate." — Andrea Bernstein, [05:58]

Bloomberg’s Mixed Legacy as Mayor

• Learning and Evolution?: Bloomberg's defenders say he’s learned from past mistakes (e.g., "Stop and Frisk"), though critics feel his responses are often belated.
  • "He seems to learn from his own mistakes. I think Stop and Frisk is a perfect example..." — Andrea Bernstein, [06:44]
• Stop and Frisk:
  • "While it was going on... the numbers were staggering… 120,000 stops of middle school aged boys." — Eleanor Randolph, [08:05]
  • "It was very much a criticized policy at the time... that is the big hole in his legacy." — Andrea Bernstein, [08:33]

Philanthropy, Power, and Corruption

• Philanthropic Leverage: Bloomberg used charitable giving to create loyalty among New York institutions, subtly stifling dissent.

  • "He gave money away to many of the charities in New York City, and some of those people really helped him out in 2008 when he wanted to run again in 2009." — Andrea Bernstein, [09:37]
  • "It without a doubt, stifled people who might have spoken out, who might have had something to say but were afraid to." — Eleanor Randolph, [10:50]

• Comparison to Trump:

  • Bloomberg’s use of money is seen as less transactional but still wields influence.
  • "They [the Trumps] would expect very directly that they would get something in return... Bloomberg is not that way. He is not that kind of direct transactional politician." — Eleanor Randolph, [11:22]

What Drives Bloomberg?

• Desire for Power and Efficacy:
  • "He would love to be president. He would love to run the country. He's said that... that goes way, way back." — Andrea Bernstein, [13:23]
  • Bloomberg’s self-image is that of a manager: "He talks about himself as a manager, a decider..." — Andrea Bernstein, [13:40]
• Managerial Ideology:
  • Prioritizes effective administration over ideology, but this itself can mask ideological stasis.
  • "That's meant to sound anti ideological. But isn't it itself a form of ideology?" — David Remnick, [14:39]

Personal Conduct and Gender

• Women and Misogyny Claims:
  • Bloomberg’s record on gender issues is mixed; while he’s "empowered women" over his career (Eleanor Randolph, [15:37]), Wall Street and his company’s male-dominated culture lingered in his early years.
  • "He made a couple of really stupid remarks when he was mayor, you know, and I don't think he could resist." — Andrea Bernstein, [17:17]
• NDAs and Late Apologies:
  • Contradictions remain between Bloomberg’s later actions and his history of NDAs and off-color remarks.
  • "It's kind of late in the day for them to be excused in any serious way, aren't they?" — David Remnick, [17:01]

Evaluating the Bloomberg Mayoral Legacy

• Randolph: On balance, sees Bloomberg as a "good mayor," citing anti-smoking legislation, improvements to city services, and early school system reforms. [17:53]
• Bernstein: More nuanced, noting both benefits (e.g., public health) and the countervailing interests of global elites that exacerbated issues like rising housing costs.
  • "Everything with Bloomberg, there's a countervailing thing... it also might benefit billionaires from Russia." — Andrea Bernstein, [19:12]

Notable Quotes & Memorable Moments

• "I would argue that I am the candidate that can do exactly both of those things."
  — Michael Bloomberg, on beating Trump and running the country, [00:13]
• "As if someone had ripped back the curtain on the wizard of Oz."
  — David Remnick, on Bloomberg’s first debate appearance, [00:44]
• "If you want to look at Bloomberg's years as mayor, that is the big hole in his legacy. And so he still has to answer for it time after time."
  — Andrea Bernstein, on Stop and Frisk, [08:33]
• "It without a doubt, stifled people who might have spoken out..."
  — Eleanor Randolph, on the silencing impact of Bloomberg’s philanthropic giving, [10:50]
• "He would love to be president. He would love to run the country. He's said that… that goes way, way back."
  — Andrea Bernstein, [13:23]

Timestamps for Key Segments

• 00:13 – Bloomberg’s dual argument for beating Trump and being qualified
• 01:47 – Why Bloomberg initially chose not to run
• 03:45 – Analysis of Bloomberg’s campaign spending
• 05:17 – Purpose and implications of Bloomberg’s advertising
• 06:44 – Reflection on Bloomberg learning from mistakes, Stop and Frisk discussion
• 09:37 – Philanthropy as power, examples of influence
• 11:22 – Comparing Bloomberg’s and Trump’s use of money
• 13:23 – What motivates Bloomberg’s presidential run
• 15:37 – Discussion of women, misogyny, and Bloomberg’s record
• 17:53 – Was Bloomberg a good mayor?
• 19:12 – Bernstein on the contradictions in Bloomberg’s legacy

Final Thoughts

This episode gives a nuanced profile of Michael Bloomberg’s complex character: a billionaire philanthropist who leveraged his wealth for political power, a technocrat with managerial ambitions, and a politician whose legacy is marked by both innovation and controversy. The conversation raises perennial questions about the intersection of money, influence, and accountability in American democracy—and what kind of leader Bloomberg would be if ever entrusted with the presidency.