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5 LA Area State Dems Eye Speaker of Assembly Gig

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Since Proposition 93 was rejected by voters yesterday, termed-out assemblymembers are out of a job come next year -- that includes Los Angeles Democrat Fabian Nunez who represents downtown (and south of it) and has been Speaker of the Assembly since 2003. Now, assemblymembers from up and down the state are looking to fill the speaker's shoes.

But what the heck is so special about being Speaker of Assembly? What does this person do?