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Warning Shot

Germany's top financial regulator, Jochen Sanio, tells Alpha how strong regulation can help prevent the next big hedge fund disaster.

So one can accuse Jochen Sanio, Germany's top financial regulator, of mincing words. The most recent target of his sharp tongue has been hedge funds. "I'm an old hand at hedge fund­bashing," Sanio, 58, tells Alpha. Sanio calls hedge funds a black hole. According to his cosmology, they have the power to

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