Pat Saiki: walking the fence?

PAT SAIKI Walking the Fence?

Her defeat in last fall's U.S. Senate race booted her off Capitol Hill, but not out of Washington. By the grace of George Bush, Pat Saiki landed in the office of administrator of the U.S. Small Business Administration. Now the former schoolteacher and congresswoman runs

an agency with 4,000 employees, an operating budget of $382 million and authority to guarantee $5.8 billion in small-business loans. So far her style has been vintage, no-nonsense Saiki: She's doing management audits, reevaluating SBA programs and striving to boost morale at the agency Ronald Reagan thought of dismantling. "It's a lot more difficult because you bear the responsibility," says Saiki, 61. "When you vote, you're one of 435. But when you implement, the buck stops here." Which side of the fence does she prefer? Hawaii's most popular Republican isn't saying - but neither is she quashing persistent talk of future political bids.