Jack Conners

Gary Schaer will replace Neil Cohen as Chairman of the Assembly Financial Institutions and Insurance CommitteeAssemblyman Gary Schaer (D-Passaic) is expected to be named chairman of the Assembly Financial Institutions and Insurance Committee. The post became available in July when Neil Cohen resigned his Assembly seat after being caught with child pornography on his state computer.  A formal announcement from Speaker Joseph Roberts is expected to come later this afternoon.  

With jurisdiction over the banking and insurance industries, the committee is considered to be one of the most powerful assignments in the Legislature.  Schaer, a two-term Assemblyman, has a background and career in the financial services industry and has formed a solid relationship with Roberts.  For now, Schaer will retain his vice chairmanship of the Assembly Budget Committee.

Is Jon Corzine following the Barack Obama model and auditioning candidates for Lieutenant Governor by taking a road trip?  The Governor, who says he’ll seek re-election next year, is leaving today for Fort Bliss in Texas, where he’ll lead a bi-partisan delegation to visit with New Jersey National Guard troops.  Four of the five Democrats joining him have been mentioned as possible candidates for Lt. Governor: Newark Mayor Cory Booker, Senate Majority Leader Steve Sweeney, Assembly Majority Leader Bonnie Watson Coleman, and State Sen. Teresa Ruiz.   

There’s even a Chuck Hagel-type on the trip: former Republican Congressman Bob Franks, who nearly beat Corzine in the 2000 U.S. Senate race but has now become a close friend and sometime policy advisor.

Assemblyman Neil Cohen, who is expected to resign his seat in the Legislature amidst an investigation of child pornography on his office computer, will also give up one of the most powerful committee chairmanships in the Assembly: Financial Institutions and Insurance.  Speaker Joseph Roberts will decide who succeeds Cohen; possible candidates include Jack Conners, a Camden County Democrat (like Roberts) and a retired banker; and John Wisniewski, who now heads the also powerful Assembly Transportation Committee. Lower down on the list are John McKeon, who is a close political ally of Senate President Richard Codey; and current Vice Chair Grace Spencer, a freshman from Newark who served as Mayor Cory Booker’s Deputy Campaign Manager.