Hedge funds and other investors who bought Greek debt on the cheap expecting the small nation would surely get bailed out by wealthy neighbors might want to reconsider their positions. Germany isn’t going to let so-called speculators profit from this Greek tragedy, especially if they are paying to help clean up the mess.

Reuters reports that financial watchdog BaFin is leading an investigation to figure out who’s aiming to benefit from Greece’s financial battle and inevitable bailout.

“It would be bad if it were to emerge after a rescue that the money had gone into the pockets of speculators,” the source told Reuters.

This could piss off the likes of famed hedgie John Paulson, who had reportedly sent a team out to Greece as its financial tragedy was unfolding.