Baker to take lobbying job

Rep. Richard Baker (R-La.) will leave Congress to lead a lobbying association that represents the hedge fund industry, the group said Tuesday.

Baker will assume the position of president and CEO of the Managed Funds Association (MFA) in February.

{mosads}“I have been honored to represent the people of the 6th District of Louisiana for almost 22 years. During my tenure, it was a privilege to have served on the House Financial Services Committee and to work with my colleagues to ensure the health of our nation’s financial system,” Baker said. “I look forward to continuing work to ensure the United States capital markets remain the strongest in the world.”

National Republican Congressional Committee (NRCC) Chairman Tom Cole (Okla.) praised Baker for his work on the Financial Services Committee and in the aftermath of Hurricane Katrina.

“The 6th congressional district of Louisiana has a continually and overwhelmingly elected Republican representation and we expect that trend will continue,” Cole’s statement said. “There are several strong candidates that have already come forward and the NRCC will be meeting with them over the next several weeks.”  Although Baker has enjoyed strong support from this central Louisiana district and President Bush won there with 59 percent in 2004, the demographics of the district have shifted in the wake of Hurricane Katrina, making the soon-to-be open seat potentially competitive.

Democrat Louisiana state Sen. Dan Cazayoux announced a bid for the seat last week.

Kyra Jennings, a spokeswoman for the Democratic Congressional Campaign Committee, took a shot at Baker as “cashing out” instead of facing a tough campaign.

“This open seat is an exciting pick-up opportunity for Democrats,” she said. “Voters in Louisiana’s 6th district are ready for a member like Don Cazayoux who focuses on change and will represent their values in Washington.”