Article: Wendy Gramm's position on Enron board ensnares her case.

Byline: Jim Landers

WASHINGTON _ Wendy Lee Gramm's official profile begins with a bouquet from The Wall Street Journal, which in 1999 called her "the Margaret Thatcher of financial regulation."

"The best judges of how to run a business are the people who depend on that business for their livelihood," Gramm said in a 1992 speech, echoing the bureaucracy-cutting zeal of the former British prime minister.

Gramm followed that philosophy in one of her last acts as a government regulator, moving to speed up the exemption of energy trades from federal oversight. Not long afterward in 1993, she joined the board of one of the companies seeking the ...

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