Center for Business and Financial Law at New York Law School

08/28/2026

Excerpts from Bloomberg Law Opinion
"Y’all Street Won’t Mess With Wall Street"

Second-tier US cities are always pitching themselves as “the next Wall Street.” Charlotte, Jacksonville, Miami, Tampa and West Palm Beach have all, at one time or another, laid claim to the Wall Street South nickname. And now Dallas is going all in on Y’all Street.

Having examined the numbers from my office here in Miami, I can confidently tell you that while the ever-booming investment business has been expanding into more diverse locales, New York will always be its home.

Manhattan alone still has five times as many high-finance workers as Dallas, Miami and Palm Beach combined, and in the last five years it added twice as much headcount as the total increase in those cities.

Finance and investing workers also earn considerably less in these locales than they do in New York.

Compare the concentration of Wall Street-type jobs by dividing them by total employment. Dividing the local concentration by the national concentration yields what economic geographers call the location quotient, where LQs greater than 1.0 indicate an industry presence that’s greater than typical.

- Manhattan has an LQ of 11.
- Dallas County: 1.33
- Miami: 1.38
- Denver: 1.98
- The other real standout continues to be Chester County, Pennsylvania, home to Vanguard Group. Its LQ: 8.6.

Despite some legitimate progress in cities like Miami and Dallas, New York will always be the home of the finance and investing business, with Manhattan having five times as many high-finance workers as Dallas, Miami, and Palm Beach combined.

08/28/2026

Excerpts from Bloomberg Law Opinion
"The AI Productivity Illusion Frustrates Teams, Increases Spend"

Legal leaders should pay close attention because AI doesn’t always change the amount of legal work. Instead, it changes the work itself.

Every AI-generated document that needs a lawyer to confirm citations, verify legal reasoning, check factual assertions, or rewrite hallucinated language creates work that rarely appears on productivity dashboards.

Moreover, these activities are distributed across partners, associates, paralegals, legal operations professionals, and compliance teams. Because no single person sees the entire workflow, leadership concludes AI eliminated work when, in reality, the work simply changed form.

Opinion: An AI productivity illusion is created when leaders mistake faster workflows for greater organizational productivity.

07/23/2025

What does it mean to "tokenize" an asset such as stocks and bonds? Read the backgrounder below.

Tokenization has long been a buzzword for crypto enthusiasts, who have been arguing for years that blockchain-based assets will change the underlying infrastructure of financial markets.

07/16/2025

A federal banking regulator is developing a policy to clearly lay out what would be required for nonfinancial companies such as automakers and retailers to establish their own banks.

03/10/2025

We're having a great semester with great lunchtime speakers, including the Executive Vice Chairman of NASDAQ, a nationally-renowned trial lawyer, and an internship panel with advice from New York Law School students. See the photos below!

11/07/2024

We had an engaging fireside chat today about private credit funds with Michael Mezzacappa '98 (at right), a Partner at Proskauer Rose and Co-Head of its Private Credit Group, and Center Director Professor Howard S. Meyers.

03/27/2024

Many thanks to Chris Giordano '93 (Partner and Chair of the U.S. Mergers and Acquisitions Group at DLA Piper) for giving insights into his practice during a lunch hour Fireside Chat with our students at New York Law School. Professor Howard Meyers (at right), director of the Center for Business and Financial Law, interviewed Chris and moderated the discussion.

10/27/2023

Many thanks to Lucas Charleston '08, a Partner at Akin Gump LLP, as he spoke about his practice in complex financings & transactions and also offered valuable advice to students during yesterday's fireside chat with center director Professor Howard Meyers.

09/15/2022

Many thanks to Faraz Rana, the former Chief Legal Officer of startup Bread, for yesterday's lunch lecture "Fintech Startup: From Inception to Successful Exit"!