10 BIG THINKERS FOR BIG BUSINESS
In an era when wanna-be Eliot Spitzers (and the man himself) publicly attack potential targets even before filing charges, Thomsen is certainly a throwback; her new way of thinking is one that relies on old standards. "I'm a big believer in due process," she says. "A lot of people get worked up about the pace of investigations, except when it's you or your brother or husband who finds himself in the cross hairs. Then you want due process."
Thomsen is in a particularly tough spot. The Enforcement Division she runs has racked up an impressive array of victories in recent years, including its investigation of Enron, which Thomsen led. But just last week, SEC chairman William Donaldson, the man who appointed Thomsen to the job last month, resigned amid intense pressure from business groups over his aggressive agenda. President Bush has nominated a conservative, Rep. Chris Cox, who is known for his pro-business attitudes.
Thomsen, 50, has spent 10 years at the SEC, where she has held a number of top gumshoe positions. She serves "at the pleasure" of the chairman, but most SEC watchers say the odds are unlikely that Cox, if he is confirmed, will find someone better suited for the job. Former SEC chairman Harvey Pitt, President Bush's first SEC chief, describes her as "tough as nails, but in a good way."
If Thomsen is worried about a shift in the way the SEC does business, she doesn't show it. In a series of interviews with NEWSWEEK last week, Thomsen conceded that the Enforcement Division might have to adapt to new leadership. But, she quickly added: "I believe the core business of what law enforcement does is something people rarely disagree with. And we will continue to call them as we see them."
--Charles Gasparino
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