China’s financial industry has experienced a golden age in the last decade. In 2013, China’s banks made a staggering $292 billion in aggregate pretax profit: Chinese institutions represent four of the top ten global banks, ranked by total assets. And yet, trouble is on the horizon. In the last year, most Chinese banks reported their
The failure of Revel Casino is in many ways the failure of Atlantic City. Simply, there were too many casinos, not enough customers. Prior to competition from Delaware, New York, and most notably Pennsylvania, the Atlantic City market reached a high point in 2006 with gaming revenue of $5.2 billion. By 2014, that number had
What do today’s Temple Law students crave? A fascinating guest speaker in Klein 2A with free pizza? A great torts outline from the WLC Outline Bank? A brief extension from a merciful professor? Yes, yes, and definitely yes. But even more than that, today’s law students want a connection with our impressive Temple Law alumni
As I approached the end of my internship with the White House Office of Science and Technology Policy (OSTP), my excitement and awe had not dissipated in the least. While many of my friends and family see the fact that I worked in the building where Veep is filmed as the most impressive aspect of
It was about 7 am on Friday morning, November 30, 2012, and I was taking the day off. Just as I settled down to a cup of coffee and the newspaper, my cell phone started ringing, and I immediately recognized Conrail’s Chief Risk Officer was trying to reach me. He greeted me with “four tank
Chapter 11 of the Bankruptcy Code is the principal legal system for resolving serious financial distress of U.S. businesses. Because it allows managers of troubled companies to retain control, it rests on a seeming conflict of interest: how can creditors trust the managers who may have caused the trouble in the first place? To address
Social media has been and continues to be an incredible platform on which to build and improve a professional brand. But while the American Bar Association’s (ABA) most recent Legal Technology Survey indicates that lawyers are beginning to experiment with social media more than ever, for more risk-averse individuals, navigating the social media waters remains
What do recitals of contractual obligation actually do? Pennsylvania, uniquely, permits parties to contract into obligations under the Uniform Written Obligations Act. But many other states permit mere recitals of consideration to conclusively establish the enforceability of a contract, even gratuitous promises otherwise unsupported by bargained-for-exchange. In contract theory, the enforceability of such naked recitals
Cybercrime, as numerous almost daily headlines tell us, is understandably a favored tactic of organized criminals. The crimes can be committed far from the locus of the harm and do not involve face-to-face confrontations, are capable of repetition once devised, and can be highly lucrative. From organized computer wizards in Eastern Europe, to governmental actors
Recently, New York’s Department of Financial Services (“DFS”), the State’s banking and insurance regulator, identified two challenges to effective financial regulation: (1) deterrence for individual bad actors and (2) adequate anti-money laundering (“AML”) compliance by banks and other financial institutions. According to the DFS, federal regulation has been insufficient to address these challenges. Thus, like