Barney Frank has said that he will run for Kerry's U.S. Senate seat IF and only IF the Democrats do NOT take the U.S. House of Representatives as majority party.
Why? Because Barney Frank is, presently, the ranking member (highest seat of the minority party) on the U.S. House Finance Services Cmte (
http://www.house.gov/banking_democrats/ ). If the Democrats win the majority then Frank will be the next Chairman of that cmte. He wants the position badly. And he'd be great as Chairman too. No doubt about it.
But if the Republicans win the majority of the U.S. House again, then Barney Frank will run for Kerry's empty U.S. Senate seat. There's a Massachusetts state special election coming up this Spring after Kerry's seat is vacant to determine who will take Kerry's seat.
I'm backing Barney Frank. All the way. Definitely. He's one hell of a guy. Brilliant as hell. Frank graduated from Harvard Law School earning a cum laude in a juris doctorate (law degree). And he thinks quickly on his feet, can turn and think on a dime. On top of all of that, Barney Frank has a wonderful quick, witty, wry sense of humor with which he loves to pepper his opponents. It's a great combo.
Unfortunately, he will leave a huge hole in the U.S. House if he leaves to go to the Senate. He's the House's best parliamentarian (someone who has expert knowledge re the U.S. House rules and procedures).
edit: corrected typos in last sentence