Irresponsible Hedge Positions “Illegal”

This is a new twist on the exceptional risk "investment" banks have taken in the recent past with respect to irresponsible lending and leverage. From the Dow Jones Newswire release today regarding Sweden's investment bank D. Carnegie & Co. AB this quote:

STOCKHOLM (Dow Jones)--Sweden's financial regulator Monday revoked the banking license for D. Carnegie & Co. AB (CAR.SK) due to illegal trading activities and said the National Debt Office was taking over the bank's operations.

Yes they use the word "illegal" when citing the reason to "revoke" the banking business license of D. Carnegie.

If only the US regulators had the ability (or lets say willingness since they do have the ability to revoke) to revoke business licenses for companies that are repeat offenders in the investment banking and securities businesses.