The decision by Caroline Kennedy to seek the New York Senate seat held currently by Hillary Clinton marks a new era for the Kennedy clan.

With uncle Senator Edward Kennedy clearly ailing, the Kennedy family clearly believes the torch should pass to Caroline, the only surviving child of President John F. Kennedy.

Clearly she has massive establishment support behind her.

The exception, of course, will be Clinton herself, who is still furious over the Kennedy embrace of Obama at a key stage of the presidential election. Caroline clearly feels she can overcome that problem.

Other members of her generation of Kennedys have tried in varying degrees to continue the legacy. Ironically she is competing for the seat held by her uncle Robert Kennedy Junior, whose children have been the most successful in politics.

However, RFK's son Robert Junior has made clear that he is not running.

Caroline is not the only Kennedy in the political hunt these days. Former Congressman Joe Kennedy may well make a comeback if Teddy succumbs to illness, and run for his Senate seat in Massachusetts.

The rumor is, though, that Ted's wife Vicki is also interested, which might make for an interesting family brunch. Vicki Reggie Kennedy originally comes from a highly politically connected family in Louisiana.

Caroline has certainly moved swiftly to exploit the opening. The fact that she has chosen a public relations firm run by Senator Chuck Schumer's former chief of staff Josh Isay to manage her campaign is a clear sign that the senior senator from New York is on board with her bid.

That counts for a lot in a state where Schumer will hold strong sway in the next decade or so. As the number three ranked Democrat in the Senate and coming off another successful fundraising stint for Senate candidates, he has plenty to say about who gets what job and where.

There is also the pertinent fact that President-elect Barack Obama would very much like to see Caroline Kennedy in the Senate. Her support for him at a key moment was a critical factor in his election.

Indeed, one can almost sense the beginning of a deal between Obama and Schumer on the issue. This flies in the face of recent commentary that Schumer would prefer anyone but Caroline because she would surely steal the limelight.

That is clearly not now the case, and if you want to ensure action in New York state on any issue then having Schumer on your side is a huge plus.

The only unknown is Governor David Paterson, who will actually make the choice. Patterson has a well-deserved reputation as a maverick thinker.

Some years ago he decided very late on to run for State Senate. His father, Basil Paterson, a former elected official himself, had already endorsed someone else.

So if Paterson remains an unpredictable factor then there is no guarantee that Caroline can claim the seat.

However, the governor may be sorely tempted by the prospect of Obama, as president, campaigning for him in 2010 when he runs for election, as well as having Schumer by his side.

There are a plethora of candidates who are seeking the job, including almost every able-bodied Democratic congressional representative in the state.

Congresswoman Carolyn Maloney certainly did herself no favors last week by announcing that she had picked an African American, Bill Lynch, formerly with New York City Mayor David Dinkins, to push her interest with Paterson. It smacked of the worst kind of opportunism.

The other interesting candidate is Andrew Cuomo, the current state attorney general, who was married to RFK's daughter Kerry Kennedy. They had a nasty break-up a few years back.

Cuomo himself is showing shades of his famously indecisive father by being unable to decide whether he wants to run for the seat or not. Chances are he won't.

So Caroline will have to overcome the twin threats that Hillary Clinton and Andrew Cuomo represent.

The Schumer backing, allied with Obama support, makes her a strong favorite, but Paterson remains the one unknown quantity.

The fact remains, however, that he has yet to tip his hand.