We don’t know what line Vegas had on Linda Thomsen keeping her job, but even before the SEC was Marked-to-Markopolos this week, it was a pretty good bet that the Head of Ennuiforcement, 6 years shy of her 20, was unlikely to be collecting a government pension of any note. The Post confirms it with an unconfirmed rumor that there is a lot of light and noise emanating from the Mary Schapiro set to this general end.
Newly installed SEC boss Mary Schapiro is quietly searching to replace Linda Thomsen, the agency’s embattled enforcement chief, with a prosecutor’s Street cred, according to people familiar with the situation.
Sources said Schapiro is scoping out the ranks of professionals in various offices of the US attorney, who litigate cases on behalf of the US government under the direction of the attorney general.
Well, it certainly wasn’t quiet, but that’s no surprise. The surprise would be if the SEC hadn’t leaked it themselves to try to take a little bit of the Class O star level heat coursing out of the beltway off of themselves. Unfortunately, at this point there isn’t an SPF number obviously high enough to keep even the Alaska office agents from getting a nice, deep Mozilo.
We’re also not so sure that the “ranks of professionals in various offices of the US attorney” is the best place to look. Sarasota might give white collar prosecution a better name at this point.
Looking ahead, what’s the Vegas line on Schapiro? Selected, as she was, before it was obvious to the entire planet how useless the SEC is, how likely are the attributes that commended her to the position to seem useful now? What say you, Dealbreaker?
SEC’s Blind Spot [The New York Post]
more than one woman at a company = bitchfight. never, hire more than one.
Didn’t you get the daily text? These items are on Obama’s agenda for his second term. Schapiro stays.
“Obama Live” countdown…i mean, really?
@3, no kidding. Especially have to like the hundredths of seconds timer that CNBC uses once an event is inside of an hour. It’s a press conference, not the Olympic downhill.
If Schapiro to keep her position as head of the SEC, she has to be given very little latitude or time to materially restructure SEC enforcement. Heads must roll, credible individuals must be installed in substantive positions and results must follow. Additionally, Schapiro should be required to report back to congress in a few months to report on her efforts to restructure the SEC.
Her reputation and track record as a credible enforcement professional is non-existent. Schapiro isn’t the right person to head the SEC at this time in history.
M. Schapiro – “You don’t have to go for my throat, I can cut it fine by myself.”
Have to agree with #1. They hate men and they hate each other.
I see you nodding your head in silent agreement.
@5
Totally agree.
Liquor in the front, poker in the rear.
I’m short horses and rope:
http://en.wikipedia.org/wiki/Hanged,_drawn_and_quartered
Anyone know why yesterday’s testimony was not aired?
Didn’t Brenda Murray already say she could stay? How could that be overruled. The SEC has become a total joke.
Go back and look at CNBC interview with her day after Madoff arrest. It was clear they did not have a clue of how the business works. So proud to say only 15 clients, especially considering the release yesterday os some of the “clients”. Oh wait they were investors/not clients! It is just so sad.
they oughta get someone from one of the State AG’s offices. Or even the Manhattan DA. Some attention-hungry, underpaid type would be just the guy to rip some friggin hedz off.
So Linda was clearly thrown to the dogs as the sacrificial lamb earlier this week but, come on, Schapiro’s just as useless. And as Markopolos pointed out, corrupt
@14 That’s the problem. When the SEC gets the enforcement bug up its ass, they rip apart the nearest investor or public officer like a pit bull with a toddler. Right, wrong, the important thing is that the lawyers are seen “going after the bad guys.”