In his own words at the National Review:
Here is a sentence I never thought I’d type: After days of prayer, reflection, and serious study of the possibilities, I am not going to run as an independent candidate for president of the United States. I gave it serious thought — as a pretty darn obscure lawyer, writer, and veteran — only because we live in historic times. Never before have both parties failed so spectacularly, producing two dishonest, deceitful candidates who should be disqualified from running for town council, much less leader of the free world.
Given this reality, it would be tempting to say that when it comes to confronting this national moment, “somebody” stepping up is better than nobody. But somebody is not always better than nobody. I’m on record saying that Mitt Romney could win. I believe others could run and win, and would make excellent presidents.
Indeed, the path is there. I spent the last several days with some of the best minds in politics. I learned that the ballot-access challenge can be met with modest effort (by an existing network ready to activate), that the polling for a true outsider independent was better than most people know, and that there are many, many Americans — including outstanding political talents — who are willing to quit their jobs — today — to help provide the American people with an alternative.