The problem is that even Rudy loyalists think it’s a bad idea. “They think this is crazy,” a source said. “They realize how long the odds are, but they are standing by.”

Some insiders say it’s a way for Giuliani to stay relevant. “He’s not doing all these morning talk shows because he enjoys the conversation, it is because he wants to stay in the game,” one said.

“He has previously said he would not run again, but he wants us to think he will,” a different source said. “He’s not being talked about among the Republican contenders, and his ego can’t take that.”