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The Vilks controversy arose in 2007, when his entry in an arts project was published by the newspaper. It pictured a dog with the head of a bearded man in a turban. Several Muslim countries protested against the picture. At the time, Swedish officials expressed regret at any hurt caused to Muslims' feelings, but said the government could not prevent the publication of such drawings because of media freedom rules. The case came about a year and a half after a series of depictions of Muhammad in Denmark's Jyllands-Posten paper caused an uproar in early 2006. Those cartoons sparked protests from Muslims around the world. Dozens of people were killed in riots. Muslims regard any image of the Prophet Muhammad as blasphemy. In January, one of the cartoonists whose drawing appeared in Jyllands-Posten, the Dane Kurt Westergaard, was targeted in his own home, allegedly by a Somali radical Muslim with an axe. Mr Westergaard, who escaped unharmed, had depicted the Prophet Muhammad with a bomb in his turban. Mr Vilks told The Associated Press news agency that the telephone threats in January had come from "a Swedish-speaking Somali. He reminded me about what had happened to Westergaard and threatened with a follow-up and that 'now it's your turn'."

Today, he is emerging as one of the nation’s archreformers, pushing to impose some of the most stringent new financial regulations in history. And as the head of the Commodity Futures Trading Commission, the leading contender to oversee the complex derivatives contracts that played a central role in the financial crisis and, in turn, the Great Recession, he is in a position to influence the outcome. It may seem an unlikely conversion, but it is one that has won the approval of Brooksley E. Born, of all people, a former outspoken head of the commission. She sounded alarms more than a decade ago about the dangers hiding in the poorly understood derivatives market and was silenced by the same Washington power brokers that counted Mr. Gensler as a member. Mr. Gensler opposed Ms. Born, according to people who worked at the commission in the 1990s, and in 2000 played a significant role in shepherding through Congress deregulation measures that led to explosive growth of the over-the-counter derivatives market. That was then. These days, Ms. Born is convinced of Mr. Gensler’s reformist zeal, as he takes on Wall Street in what is becoming one of the fiercest battles over regulation in the postcrisis era. “I think he is doing very well,” she said in an interview. “He certainly seems to be committed to robust oversight of derivatives and limiting excessive speculation and leverage.” The proposals championed by Mr. Gensler, if adopted by Congress, would substantially alter what is now a largely unregulated market in over-the-counter derivatives, financial instruments used by companies and investors to protect themselves and bet on moves in variables, like interest rates or currencies, and to speculate. The proposals include forcing the big banks that sell derivatives to conduct their trades in the open on public exchanges and clear them through central clearinghouses, so that any investor can see the prices that dealers charge their customers. Today, those transactions are bilateral and private.