Bloomberg candidacy designed to screw the Dems?

I haven't formed a clear impression in my mind about how a Bloomberg third party candidacy plays out in terms of who gets hurt most, but Digby has, and it's worth reading her take on it. The short form:

Let's everyone be clear about what's really happening and go from there. Bloomberg's candidacy, if it happens, is designed to deny the Democrats a victory in a year when the Republicans are so wounded and tired they probably can't win it for themselves, even if they cheat. The big money boys aren't taking any chances.