Saturday, October 24, 2009

Bloomberg Sets Record for Personal Spending in Pursuit of Public Office -

Michael R. Bloomberg, the Wall Street mogul whose fortune catapulted him into New York’s City Hall, has set another staggering financial record: He has now spent more of his own money than any other individual in United States history in the pursuit of public office.

Newly released campaign records show the mayor, as of Friday, had spent $85 million on his latest re-election campaign, and is on pace to spend between $110 million and $140 million before the election on Nov. 3.

That means Mr. Bloomberg, in his three bids for mayor, will have easily burned through more than $250 million — the equivalent of what Warner Brothers spent on the latest Harry Potter movie.