The purpose of this paper is to understand the incentive effects of existing compensation mechanisms in case of the bankruptcy of a financial institution. The paper uses insights of law and economics to predict the effects of compensation mechanisms on the incentives of depositors, financial...

The paper aims to describe the impact of the current financial crisis on the law and the legal profession. The financial crisis has unfolded and become publicly visible in the second half of 2007 with the issues around subprime, has then developed further into a global financial crisis in 2008...

Should transactional lawyers bear responsibility when their competent actions facilitate unlawful activity by their client? Or is a lawyer's only concern to act in the client's interest by providing her with the advice and support she seeks? The high profile failure of Lehman Brothers provides a...

The United States faces three simultaneous crises: a pandemic, a civil-rights reckoning, and a crisis of democracy. The first of these crises has sparked dramatic—though potentially temporary—changes to the practice of law: moving much legal work to remote settings almost overnight, after...