Tuesday, December 9, 2008
Linda Thomsen, Please Go Home
"'The second-highest number of actions ever,' the [SEC] bragged in an Oct. 22 press release touting the 671 enforcement matters started in the year ended Sept. 30. But to reach that level (15 more than 2007), in August and September the SEC, by our count, began 56 administrative cases to revoke the registrations of tiny, often defunct public companies that hadn't filed financials in year. ... The agency gave each inconsequential, rarely contested corporate delisting proceeding the same numerical weight as insider trading matters or its big civil fraud lawsuit against former Bear Stearns hedge fund managers. SEC enforcement chief Linda Chatman Thomsen--whose name was on that press statement--tells Forbes, 'These cases are important'," Daniel Fisher and William Barrett at Forbes, 8 December 2008.
If it weren't for the fact Linda Thomsen's (LT) antics long ago left me numb, she would disgust me. LT, please resign. LT is the fool, or perhaps much worse, who gave Mary Jo White a "heads up" on the John Mack investigation, my 23 October 2008 post: