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Does he have a chance? Sure. Will he win the nomination? Not likely. The main people that want him and the group that has done the most to recruit him is the far religious right. The far right doesn't like Giuliani because he is pro-choice and for gun control (among other things) they don't like McCain because he has openly bashed them in the past. They don't like Romney because he has made money from porn and is a Mormon. They have nobody that they can support who has a chance. Thompson is their guy. I doubt, however, that he will be able to get enough votes from the moderates in the party to get the nod.
You never know, anything could happen there is a long time still left, but really he is just another cookie cutter republican with a checkered political past. Like every candidate he has his flaws, it will be how he overcomes those that determines if he wins. I think it is more likely that he ends up as a vice presidential nominee for Giuliani.
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