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Rudy Giuliani has decided not to run for governor next year, reports the Times:

It was not clear what prompted the decision, but the prospect of potentially facing Attorney General Andrew M. Cuomo, who is quietly planning his own run for governor on the Democratic ticket, may not have appealed to Mr. Giuliani, who suffered a bruising defeat in the 2008 Republican presidential primary. While many political analysts believe Mr. Giuliani would have comfortably beaten Gov. David A. Paterson, he would likely have faced an uphill battle against Mr. Cuomo, one of the most popular politicians in the state.

So what will he do instead? Continue to collect a zillion dollars per speech, so he can keep up with Judy Giuliani's Louis Vuitton addiction, that's what. [NYT]