Will NYC Mayors' Rivalry Go National?

Michael Bloomberg's repeated denials are doing nothing to quell the assumption that he is laying the foundations of a possible presidential run. Bloomberg's decision on whether to mount a third-party or independent campaign may be heavily influenced by his predecessor as mayor of New York — Rudy Giuliani.

When he first ran for mayor in 2001, it was Giuliani's endorsement that gave Bloomberg the boost he needed to win.

Though the two men continue to speak highly of one another in public, Giuliani said he was "disappointed" at Bloomberg's decision to leave the Republican Party.

For his part, Bloomberg has nixed some of Giuliani's most prized city development projects and has recently made some not-so-subtle allusions to his disdain for having to deal with the budget deficit Giuliani left behind as mayor, The New York Times reports.

Even before 9/11 raised Giuliani's toughness quotient to near-superhero status, Giuliani was best-known for his no-nonsense attitude and uncompromising position against crime. Bloomberg shares Giuliani's bluntness—a trait that can be deadly if mishandled on the campaign trail.

"It's not about charm because he doesn't quite qualify on that front," Republican political strategist Ed Rollins said of Bloomberg. "It's about competence, and that's what he's going to make his campaign about."

Giuliani continues to lead among Republican candidates in national polls — but in New York City, it's a different story.

A May New York Daily News poll found that New Yorkers think Bloomberg is a better mayor than Giuliani was, and they prefer the sound of "President Bloomberg" to "President Giuliani."

There is precedent for a New Yorker vs. New Yorker presidential election. In 1944, FDR won a fourth term by defeating Thomas Dewey, who was the state's governor at the time.

But if two is an acceptable number of Emerald State candidates, could three be too many?

If Sen. Hillary Clinton, D-N.Y., and Giuliani win their respective nominations and Bloomberg enters the race, the 2008 campaign would become a three-way contest among Yankees fans.

That might raise some eyebrows in the other 49 states, but CBS News senior political correspondent Jeff Greenfield says it might not be such a big deal after all.

"New York City used to be the whipping boy of about half the country in terms of its politics [and] in terms of its culture, Greenfield said. "I think the fact that New York is now the safest big city in America and the fact that Michael Bloomberg really has governed as a nonpartisan makes the whole New York issue in national politics a lot different than it would have been say 20 years ago."

Bloomberg enjoys the luxury of not having to make up his mind until after the chaotic primary season. But if Giuliani and Clinton win their respective nominations, it might be difficult for him to enter the race, not only because of the "New York overload" issue, but also since it could be more difficult for him to carve out a big enough slice of the political center against two candidates who are considered centrists on many issues.

But New Yorkers can still dream, can't they?

"Just the idea of three presidential candidates vying to see who gets to be the first to serve bagels and lox on a Sunday — that alone might be worth seeing all these folks in the race," Greenfield said.