Baker Files Paperwork To Helm Investment Association

Republican Rep. Richard Baker of Louisiana has filed paperwork with the House Clerk to speak with an investment industry lobby shop, according to WAFB television, signaling yet another senior Republican may soon call it quits.

Baker told the Louisiana TV station that he has notified the Clerk he would like to pursue a post as the head of the Managed Funds Association, which represents hedge funds and other "non-traditional" investment industries.

Baker, a senior member of the House Financial Services Committee, came up short last year in his bid to be the top Republican on that panel. Lobbyists for the finance sector have been hinting the senior Republican was looking for a K Street job, but this is the first hard evidence he's considering a private sector post.

He told the Advocate newspaper in Baton Rouge that he could resign his post within a month if he accepts the offer, setting up the prospect that Republicans would have to defend yet another seat in a special election. He told both news outlets that he remains undecided about the post, but one Republican lobbyist suggested he is in the running for other jobs as well.

His departure would be another big blow to the state of Louisiana , as well, after Rep. Jim McCrery, the top Republican on the powerful Ways and Means Committee, announced his plans to step down at the end of the year. In addition, Rep. Bobby Jindal will vacate his seat later this month to be sworn in as Louisiana's governor.

Democratic state Rep. Don Cazayoux Jr. was widely expected to challenge the cerebral, sometimes stiff veteran Republican whether or not he decides to retire.

"The  (Democratic Congressional Campaign Committee) thinks Don Cazayoux is an extremely strong candidate," committee spokeswoman Kyra Jennings, "and he is going to run an extremely strong race."