Massachusetts Democrats left reeling by Barney Frank's unexpected retirement announcement Monday are seeking to take advantage of a political brand that's very familiar to state residents, and recruit Robert F. Kennedy's grandson Joseph P. Kennedy III to run for Frank's vacant 4th District seat.

Kennedy, a 31-year-old prosecutor for the Middlesex county District Attorney, is the son of former Rep. Joseph P. Kennedy II. He passed up a bid for the state's 10th District House seat in February of last year citing a desire to build his law career. But this week, he revealed to news outlets that he is considering running to succeed the long-serving Democratic House member.

"I haven't had an opportunity to give it a whole lot of thought, but I will give it some thought in the coming days and weeks," he told the Boston Globe. Kennedy offered a similar response to the Boston Herald.

Kennedy did not immediately return Yahoo News' request for comment Wednesday. But a source close to Kennedy who is not authorized to speak on the record confirmed Kennedy's potential interest to Yahoo News Thursday morning. Kennedy is motivated to pursue a career in public service the source said, but "hasn't set a timeline" for a decision on running for Frank's seat.

"Is the time right? Is he motivated to do this? And can he make a contribution to the state and to the country? . . . . I think those are the things he would be weighing before he makes a decision," the source said.

The source also said Kennedy has heard from some individual party leaders in the state, but that organizations such as the state party have not reached out formally to the prosecutor. That development is hardly surprising, the source stressed, given how early it is for the quest for candidates. "We're only three days removed" from Frank's surprise retirement announcement, the source said.

The prospect of a Kennedy candidacy greatly excites Bay State Democrats, who are losing another well-known lawmaker next year in addition to Frank--1st District Rep. John Olver, who is also retiring.

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Democrats in the state say they are still reeling from Frank's announcement. "Barney's decision was such a shock I don't think people really have absorbed the implications yet," Philip W. Johnston, former chairman of the state Democratic Party and Kennedy family associate, told Yahoo News Wednesday night.

Asked to comment on Joe Kennedy's potential political plans, Johnston offered that he thinks the young prosecutor would "be a great candidate."

Democratic consultant Mary Anne Marsh said in an interview with Yahoo News Wednesday that a Kennedy bid would energize the party's base. Marsh added that a Kennedy candidacy would also draw heavy voter interest by virtue of its position down ballot from one of the highest-profile Senate races in the country—the showdown between Democratic recruit Elizabeth Warren and incumbent Republican Sen. Scott Brown.

Marsh said there are "a lot of parallels" between Warren's campaign and a possible Kennedy run--for one thing, both races would feature a "marquee name."

That factor alone "changes the dynamic if he gets in," Marsh said of a Kennedy bid.

It's unclear whether Kennedy will run for Frank's redrawn 4th District seat or hold out for the 8th District seat formerly held by his father, Marsh noted.

Kennedy isn't expected to challenge current 8th District Rep. Mike Capuano, but if that seat were to become vacant, Kennedy could be well positioned to campaign for it. (One scenario that would open the seat would be that in the event of President Obama's re-election, the second-term Democratic administration could well tap Sen. John Kerry to be Secretary of State--and Capuano, a popular Democratic lawmaker in the state, would then run for Kerry's Senate seat.)

But the source close to Kennedy nixed that suggestion saying Kennedy "is not playing a kind of a chess game" and his decisions will not be based on political calculations.

Meanwhile, as Kennedy mulls his decision, other Massachusetts Democrats are eyeing Frank's seat. Alan Khazei, co-founder of City Year, an AmeriCorps program, said in the wake of Frank's retirement announcement that he is considering a campaign. Khazei last month ended his 2012 Senate campaign and was a candidate for Senate in 2010.

Johnston voiced support for a competitive Democratic field in general and voiced confidence in his party's chance at holding Frank's seat. "I think our nominee will win the general election, particularly with Barack Obama at the head of the ticket," Johnston said, later adding "the district is not a Republican district."

In a telling sign, the National Republican Congressional Committee chose in press releases this week to focus on disparaging Frank, and depicting the lawmaker's retirement as a sign of flagging Democratic fortunes, as opposed to touting the prospect that the GOP can pick up Frank's seat. But Republican candidates appear ready to prepare a serious challenge for the seat.

On the Republican side, Frank's 2010 challenger, Sean Bielat, a defense contractor executive, has already announced he is considering a second campaign in the district. Bielat, a virtual unknown, last year drew national attention when tea party groups such as the Tea Party Express, decided to target Frank for his role as House Financial Services Committee chairman. Ultimately, Frank bested Bielat in the Democratic-leaning district 54 to 43 percent.

Republican Elizabeth Childs, a psychiatrist and former Commissioner of the Massachusetts Department of Mental Health, was running against Frank prior to his announcement.

Frank revealed this week that redistricting influenced his decision to bypass a re-election bid next year, though he had personally favored retiring long before he found out he would have 325,000 new constituents in 2012.

Frank also told the Boston Globe that it doesn't hurt that it will be far easier for him to make a living in the private sector.

"I'll be honest: I will make a lot of money," Frank told the newspaper. "I will talk less than I used to and get paid much more for it."

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