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April 15, 2016

US regulator who has biggest banks in his sights

“Forty years before Tom Hoenig reached the upper echelons of bank regulation, he was drafted to fight in the Vietnam war. A talented mathematician, he was put to work in an artillery unit doing the calculations that gun crews needed to hit their targets.”

“Today he has a different foe in his sights: the US’s biggest banks.”

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“He understands that it’s his duty to be a sentinel on the front lines of the banking system ringing the alarm bell when threats are unaddressed,” says Dennis Kelleher of Better Markets, an advocate of tougher regulation.”

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Read the full Financial Times article by Barney Jopson here.

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