Pelosi, who has represented San Francisco since 1987, became the most powerful woman in America when she became Speaker of the House after Obama was elected in 2008. She lost the speaker gavel after the 2010 elections when Republicans took control of the House.
Pelosi won reelection on Tuesday with more than 80 percent of the vote, and says no matter what happens she will finish her term, which ends in 2015. "She's not immortal," says Latterman. "She can't be there forever."
She led Democrats during two elections in which they were unsuccessful in regaining control of the House of Representatives; last Tuesday, the Dems failed again to gain the 25 seats needed to take control of the House.
Still a political power figure, Pelosi, who helped usher in landmark healthcare reform, has remains a key fundraiser for the Democrats.
Pelosi's retirement would set a number of wheels in motion here in San Francisco, starting with this question: Who would we want as our next representative? Should they be young and able to build seniority in order to bring back big bucks for San Francisco projects? Or should we promote a skilled pol for their years of faithful service?