How Panicked are America’s Billionaires?

FEATURING DOUG HENWOOD – With the news that former New York city mayor Michael Bloomberg is throwing his hat into the Presidential race, many are speculating that America’s billionaire class could be panicking. Bloomberg, who is a billionaire himself, is apparently running because the only centrist frontrunner among Democratic primary candidates is former Vice President Joe Biden, and Biden’s poll numbers appear to be flagging.

With a deadline looming to make it onto the primary ballot in some states, does Bloomberg’s move indicate a panic about what wealthy elites may lose if Bernie Sanders or Elizabeth Warren becomes President?

Doug Henwood, political economist, editor of Left Business Observer, contributing editor at The Nation, host of the Pacifica program Behind the News, author of After the New Economy, and My Turn: Hillary Clinton Targets The Presidency.