"The rules of the club are occasionally in favor of the poor members, but the general trend is always in favor of the rich ones."--Simon Gleeson, partner at Allen & Overy in London, talking in the wake of TD Securities' decision to close its exotics business because of rising regulatory costs for smaller derivatives houses.
"The rules of the club are occasionally in favor of the poor members, but the general trend is always in favor of the rich ones."
