“It’s important for regulators to avoid an international competition” to over-regulate, said Stephen Green, Chairman of HSBC Holdings Plc, at a conference in London today. Perhaps Green made a safe statement, knowing full well that regulators failed miserably in the US and UK.

Green’s comment, or wishful thinking depending on how one looks at it, comes at a time when HSBC will once again be accountable for predator lender Household International. Investors who lost almost $40 per share in 2002 are not happy. HSBC refuses to settle the case and a jury is being selected today.

Watch for HSBC to lose, and lose in a big way, as this marches on.

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