SEC chief resigns

[sabra]

Source: USA Today/AP

AP reports that Securities and Exchange Commission Chief Linda Thomsen is leaving the agency less than a week after receiving an angry dressing-down before Congress over the agency’s failure to detect the $50 billion Ponzi scheme allegedly run by money manager Bernard Madoff.

The SEC said Thomsen is leaving to pursue opportunities in the private sector, but did not provide further details.

Thomsen was front and center at a Feb. 4 hearing by a House subcommittee investigating the Madoff affair and the enforcement breakdown at the SEC. She was put on the defensive by lawmakers and forced to defend the SEC's position that she and other officials couldn't publicly discuss details of the matter because of an ongoing investigation by the agency's inspector general.

Thomsen, who was the first woman to hold the chief enforcement job at the SEC, had been deputy enforcement director before taking the top spot.

Read more: http://blogs.usatoday.com/ondeadline/2009/02/ap-reports-that.html?loc=interstitialskip

[aquart]

1. How much money is she taking with her?

[nc4bo]

2. And where will she go now?

Right back into the private sector I see. Go figure.

Who'd hire her if she wasn't competent enough to do her job for the SEC?

[hvn_nbr_2]

4. She's starting a $60B Ponzi scheme. nt

[nc4bo]

7. I wouldn't doubt it. Scheming makes lots of $$. Same boo-boo, different day. nt

[Jefferson23]

22. LOL good one.

[jmowreader]

23. The next Bernie Madoff needs to

She's proven she knows what a Ponzi scheme that can slide RIGHT by the investigators at the SEC looks like.

Seriously, though, imagine what Bush would have done to her if she attempted to impede one of his friends' quest for ill-gotten gains.

[ChairmanAgnostic]

26. Bush would have given her one of his medals of freedom.

[Tandalayo_Scheisskopf]

3. Let's follow her amazing adventures...

That take her from the SEC to a large financial institution. In femtoseconds. It'll be kinda like "Where's Waldo" but much, much quicker.

[HowHasItComeToThis]

6. AND THE CONCLUSION IS...

THEY ARE ALL CROOKED

[bonito]

29. Thieves on the run n/t

[TBF]

13. Won't have to look far...

she'll just go back to one of the Washington law firms. She originally worked at Davis Polk & Wardwell.

[damntexdem]

5. I guess she saw the light:

a ponzi scheme is the only way for her to go.

[shaniqua6392]

8. I am sure she has enough money to live out the rest of her life comfortably.

Someone had to pay her off to turn a blind eye to what was going on.

[DemWynner]

9. You know someone had to be

For them not to investigate this with all of the evidence that was given them. For anyone to believe that this was just an oversight is crazy.

[Yavin4]

31. Yes. She's Either Corrupt or Stupid

I'm betting on corrupt.

[AlbertCat]

41. Not mutually exclusive, corrupt & stupid.

[Belial]

10. The even sader part about this is the person

they picked to run the SEC.. the woman who was in charge of FINRA.. the other group in charge.. they let it go too.. sigh

[mdmc]

11. Bernard Madoff for SEC now I guess...

[Gidney N Cloyd]

12. Note to Ms Thomsen: Thanks partly to you folks there ARE no "opportunities in the private sector"

[pjt7]

14. She sucked monkey sh%t

but her replacement is likely Robert Khuzami, the corporate lawyer for Deutsche Bank.

He was a John McCain supporter & speaker for the Republican Convention in 2004

He also was a federal prosecuter for the Southern District of NY. ( which has provided faux prosecuters such as Rudy G & Patty Fitzgerald)

[ChairmanAgnostic]

27. gee. rub it in , why doncha?

hehehehehehe.

She and 250 of her coworkers need the same treatment.
I'd keep the file clerks and the G-17ers. But no one else.

[Joanne98]

15. Put her in JAIL!

[Ian David]

16. She's resiging to spend more time deregulating his family into oblivion. n/t

[dodger501]

17. Is she the one who got verbally bitch-slapped

by Ackerman of NY? She just sat there and stuttered.

[Tunkamerica]

18. "I'm sorry that you feel that way" n/t

[rpannier]

19. She should be resigning to prepare her legal defense against the corruption that went on in the SEC

Her 'performance' before the House was embarrassing.

I have little respect for most of the House members and to look that incompetent in front of those clowns speaks ill for her abilities

[Stinky The Clown]

20. A fifty billion dollar "oops" .........

..... don't get me started .............

[deepplaya]

21. never-ending vacuum of competence = dereliction of duty

If she had resigned when she was notified of the errors on record, she would not have been a criminal. Just try to injure somone in an accident and fail to provide aid or assistance. I understand thats a crime too. Whats the difference? She should end up as a Pickway Store manager with a life in a crumbling neighborhood wondering weather she will have enough money to by eat.

[glitch]

24. What, no family to spend more time with?

And she calls herself a republican. Tsk.

[Sancho]

25. Resign? How about torture!

What an immoral and stupid crook!?

[Sarah Ibarruri]

28. Linda Thomsen was named by William Donaldson, SEC prez who was named by Bush

William Donaldson was a member of that secret fraternity the Bushes have belonged to, the Skull and Crossbones. He was a close friend of G W Bush and of course, do we need to dig further to realize that if this man named Linda Thomsen and she did nothing about Madoff, there's a reason.

[Yavin4]

30. Elliot Spitzer Would Be Ideal

Or at least someone well connected to him, like his top Deputy DA.

[rucky]

32. Her next gig: Defendant!

I wish. but we're looking forward not back, lol

[defendandprotect]

33. I'd be interested to hear where she's going . . . !!!

quite a number of them moved in with financial firms they were supposed to be

investigating . . . I watched but unable to pay the strictest of attention.

I think 3 of them --

[TBF]

35. She's a lawyer who practiced at a large firm - she'll go back. n/t

[Politicalboi]

34. So she has plans does she

Why wouldn't she still be called to testify and also be found guilty of turning a blind eye to all this. Oh that's right they have executive privilege too.

[progressoid]

36. Should have fired her on Jan 21.

OK, maybe Jan 22.

[Belial]

37. I am sure she will be replaced with someone just as

incompetent.. sigh

[barbtries]

38. wonder that she hadn't been fired

some time before this.

[BrightKnight]

39. Bu-Bye -n/t

[Locrian]

40. when the going gets tough... the rich cash out