Mayor Extends Term Limits

Mayor Bloomberg signed his term limits bill into law, allowing himself and City Council members to run for a third term.

However, before the mayor signed, he got an earful from during the four-hour long public testimony. Several speakers praised the mayor, saying his financial skills are needed during the economic slowdown.

But Scott Stringer, Manhattan borough president, took a more pragmatic approach to the need for three terms.

STRINGER: It takes four years to learn the job. It takes another four years to now take that knowledge and actually make a difference. Just when you're at the point where you figure out the road map, you now have to leave and the lobbyists take a sigh of relief.

REPORTER: Many members of the public blasted the mayor, saying he'd undermined the democratic process by not allowing a referendum on the issue.

Some vowed to fight his bid for re-election.