That's how The Wall Street Journal is posing a newly formed centrist political group, No Labels, which has drawn support from Bloomberg's backers:

But for a potential third-party candidate, who has to overcome a litany of structural impediments, such groups can provide much-needed ground operations. "These efforts aren't important; they're invaluable" if Mr. Bloomberg decides to run, said a top Bloomberg adviser.

Mr. Bloomberg personally donated to a successful ballot measure in California to change the process of Congressional redistricting to prevent gerrymandering.

Through the deputy mayor, Howard Wolfson, Mr. Bloomberg quoted his predecessor Fiorello La Guardia as saying "there's no Democratic or Republican way to clean up the streets," adding, "The same is true on a lot of other big issues, but partisan gamesmanship keeps the two parties from working together."

Three things a presidential campaign needs are money, strategy, and a network of supporters. Hence the invaluableness (that is actually a word) of something like No Labels, should Bloomberg run: as a billionaire, Bloomberg would have a lot of money, but such a group would help him attract top talent and backing from prominent members of the partisan strata.

While the group is aiming to create a political movement, it sure sounds, form the Journal's description, like Bloomberg is the placeholder at the top of its third-party pyramid.

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