Linda Thomsen

  • 29 Apr 2009 at 10:58 AM

It Was Just An IQ Issue, We’ve Got It All Cleared Up Now

markets7.pngIs the SEC drowning in a wading pool of ignorance? Have no fear. The Commission is getting “…more smarter, more swifter, more successfuler….” at least if you believe Robert Khuzami, sometime federal prosecutor made SEC enforcement chief. It seems that the new focus over at the SEC will be to hire smart guys. Really smart guys. How smart? Have you ever heard of Plato, Aristotle, Socrates? Morons.
Khuzami took over Enforcement from Linda Thomsen, passer of the Ponzi buck, back in February, leaving precious few targets for ridicule at the Commission. Be this as it may, Khuzami is working hard to fill Thomsen’s shoes.
When asked if it was true that specialists and attorneys with high fees are easily bored, Khuzami revealed that “lawyers in a specialized group could be permitted to work on unrelated cases to maintain variety,” and that “It’s not about what’s broken.”
The good news is that Khuzami is due to testify before Congress next week. The sharpening of disemboweling cutlasses could be heard echoing throughout the Dirksen federal building over the last 48 hours.
SEC Plans Fraud Fight With Teams of Specialists [The Wall Street Journal]

I hope he has been paying his taxes while over at Deutsche Bank.
[via CNBC]

  • 06 Feb 2009 at 10:29 AM

It Burns! It Burns!

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]