An Improvised Explosive Device went off in Times Square at 3:43 this morning, according to a statement released just a few minutes ago by the NYPD. In other, less sensationalistic words, a small homemade bomb went off just in front of the Army recruiting station. No injuries. The Mayor is expected to give a press conference a half-hour ago, "but he's running late." We'll update if he says anything interesting. (Update: He didn't.) The cops are looking into whether this bomb was anything like the ones that went off outside the Mexican and British Consulates in 2007 and 2005, respectively. Those crude devices were toy grenades filled with gunpowder, making the term I.E.D. sound even more generous. But hey, terror. Update: Cops say a witness saw a guy on a bike, with a backpack, and a hood. Which matches the description of the mysterious guy spotted outside the consulate attacks. This madman must be stopped before he inexplicably blows up a tiny bomb well outside another building at an hour when it will hurt no one. (CNN clip, regarding this mad bombing suspect, after the jump.) [NYT]