Yet another House Republican is apparently heading for the exit. Eleven-term Congressman Richard Baker (R-LA) will reportedly announce soon that he is resigning from Congress to head up the Managed Funds Association, the top lobbying group for the hedge fund industry. "It's expected to be official and announced this week," a source told Roll Call.

The district is strongly Republican, giving 59% of its vote to President Bush in 2004, but Democrats think they may have a shot at it with the right candidate. The Dems have already united behind state Rep. Don Cazayoux.