Biden gets new boost with Bloomberg endorsement

NEW YORK－US media tycoon Michael Bloomberg quit the Democratic presidential race and endorsed front-runner Joe Biden on Wednesday, after blowing more than half a billion dollars on a gamble that failed to inspire voters.

The billionaire had bet his White House run on Super Tuesday but failed to win any of the 14 states up for grabs on the most important day in the primary season.

A lack of charisma, limping debate performances, controversy over "stop and frisk" policies when he was New York mayor, and allegations he tried to buy the ticket were seen as having conspired to tank his candidacy before it ever got off the ground.

Inescapably, his poor showing left him facing mounting pressure to clear the way for fellow moderate Biden, who emerged as the newly-resurgent front-runner following a string of victories on Tuesday.

On Wednesday morning, Bloomberg took the cue and bowed out. He later thanked his supporters and 2,000 campaign staff, fighting back tears at one point.

"Defeating Donald Trump starts with uniting behind the candidate with the best shot to do it, and after yesterday's vote, it is clear that candidate is my friend and great American Joe Biden," he said.

Biden, counted out just days ago, took control of the race for the Democratic presidential nomination on Wednesday after racking up stunning primary victories over Bernie Sanders and earning the endorsement of Bloomberg.

Sanders, 78, the left-wing senator from Vermont, expressed confidence in his chances of winning the nomination despite being "disappointed" with his showing on Tuesday, when the centrist Biden won at least 10 of the 14 states at stake.

"We go forward basically neck and neck," Sanders told reporters in his hometown of Burlington, Vermont, where the self-described democratic socialist got his start in politics as mayor four decades ago.

"I have every reason to believe that we're going to win this thing,"Sanders said. "I firmly believe that we are the campaign to defeat Donald Trump."

Scathing appraisal

Trump himself had a typically scathing appraisal of the performance by Bloomberg, his rival New Yorker, who will now be throwing potentially bottomless funding behind Biden.

"This has been the worst, and most embarrassing, experience of his life," tweeted the president, who mercilessly attacked Bloomberg during his short-lived campaign, belittling him with the nickname "Mini Mike".

"I could have told him long ago that he didn't have what it takes, and he would have saved himself a billion dollars, the real cost," Trump said in another post.

"Now he will pour money into Sleepy Joe's campaign, hoping to save face. It won't work!"

'Boring'

Bloomberg was snubbed by voters despite one of the most expensive presidential runs in US electoral history, including an advertising blitz that dominated TV networks, news websites and social media sites.

The 78-year-old gambled on Super Tuesday after deciding to skip the first four voting states, but all he picked up was a consolation victory in American Samoa, a territory in the Pacific.

Bloomberg, who only entered the race in November, spent millions of dollars per delegate that he won.

"He bet that his immense wealth would in essence buy him the nomination and he was wrong," said Baruch College professor Doug Muzzio.

His ads were still running on major television networks after his announcement that he was dropping out.

"Mike Bloomberg is dull, boring, technocratic and uninspiring," he summed up.