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Digital Dollar: Privacy and Transparency Dilemma
Full text linkMany have voiced concerns that the digital dollar, a digital form of central bank money, will facilitate government surveillance, thus depriving users of privacy. This Article investigates critical technical designs proposed by leading think tanks, central banks, and scholars from interdisciplinary fields, reaching a surprising conclusion that contradicts popular belief: a digital dollar can offer better privacy protection than existing digital payment systems. The Article argues that those expressing concerns have made two flawed assumptions: (1) that digital dollar data is fully transparent regarding personal information and transaction details and (2) that the government or Federal Reserve has unrestricted access to this fully transparent data, posing a significant risk for misuse. In reality, the designs directly oppose these assumptions by allowing for a certain degree of anonymity—whether through payer anonymity, transaction anonymity, or a combination of both—while preventing government access to identity data and transaction details. The real issue is that if the digital dollar adopts these privacy-preserving designs, it will directly conflict with existing anti-money laundering and countering the financing of terrorism (AML/CFT) regulations that require transparent data to combat financial crimes. Accordingly, this Article proposes changes to financial institutions’ record-keeping, reporting, and information-sharing practices. It also suggests modernizing AML/CFT requirements to allow a certain degree of anonymity to protect privacy while still fulfilling public interest objectives such as combating money laundering and terrorist financing
Compensated to the Moon: The Impact of Excessive Compensation on Director Independence Post Tornetta v. Musk
Full text linkExcessive director compensation erodes the independence that directors are supposed to bring to boardrooms. In theory, directors are meant to serve as objective parties, overseeing corporations using their care, skill, and loyalty to promote sound decisionmaking. However, excessive compensation can create the unintended ill-effect of rendering a director beholden to upper management and unable to make clear-eyed, impartial decisions. To mitigate this problem, this Note advocates for the implementation of tenure limits, compensation caps, and enhanced proxy disclosures to ensure that board members uphold their fiduciary duties and make decisions in the best interests of the corporations they serve rather than in their own self-interests.
This Note explores the tension between offering competitive compensation to retain qualified directors while still expecting directors to remain free enough to challenge upper management’s decisions. Part I provides an overview of the historical background and recent trends in director compensation. Part II analyzes the recent case Tornetta v. Musk to understand how courts define materiality in director compensation, and to display the effect excessive compensation has on approving corporate transactions. Part III advocates for potential solutions to the problem of excessive compensation eroding independence by outlining measures aimed at increasing transparency for shareholders
‘Common Sense Discipline’ is Not Evidence-based School Discipline: The Misalignment of Executive Order 14280 and Education Research
Full text linkhttps://repository.uclawsf.edu/crej/1004/thumbnail.jp
DEI: Definitely Earned It–A Review of Contemporary DEI Initiatives Against Emerging Legal Frameworks
No full textSince 2024, Diversity, Equity, and Inclusion (DEI) programs have ignited a volatile political debate. Fierce opposition continues to attack their very existence. On one hand, proponents of DEI programs argue that such initiatives are a pivotal mechanism for ensuring that historically marginalized communities receive professional opportunities in America. On the other hand, opponents of DEI insist that these programs are detrimental because they prioritize the advancement of minority groups at the expense of their majority counterparts. With the recent enactment of multiple executive orders by President Trump, DEI programs have become the target of a plethora of lawsuits. These legal challenges proceed through various avenues and appear aimed at dismantling DEI initiatives altogether. This Note examines the evolution of modern DEI programs and analyzes them under current legal frameworks. This Note argues that while modern DEI efforts may face legal challenges, they are not inherently unlawful under Title VII and can coexist within the bounds of the First Amendment. Additionally, this Note serves as a guide to both public- and private-sector employers by predicting changes to existing law that will influence the future of DEI programs
Breaking Up Bottlenecks in Big Tech and Everywhere Else: Two Remedies That Keep Your Packages Arriving in Two Days
Full text linkThis article addresses the colossal problem of remedy in antitrust and regulatory cases combatting monopoly “bottlenecks.” A bottleneck monopoly lies somewhere along the chain of production and distribution of goods or services. Often both before and after the monopoly, the markets are workably competitive. When a bottleneck owner also participates in those workably competitive markets, the bottleneck owner has the incentive and ability to self-preference, discriminating against other competing products in the markets. As a monopolist, a bottleneck owner will also seek to constrain access to the bottleneck, assuring that the use of the bottleneck is not optimized. Traditional remedies for bottlenecks have not worked. Some remedies rely on savvy regulators to compel open access while keeping the incentive structures in place. Other remedies rely on establishing competing networks, which is a Sisyphean task. None of these remedies, however, address the core problem: the incentive of a monopolist to exploit its monopoly. This Article outlines alternative remedies we call the “condominium” and “cooperative” remedies. By reconfiguring the ownership structures of the bottleneck, these remedies eliminate or dramatically reduce the monopoly incentive problem, thus removing the need for a hypervigilant regulator or a failed competing network. These solutions are not perfect, and the Article details the potential risks of deploying such remedies. Finally, the Article takes both proposed remedies for a test drive, describing how they could be employed if the Federal Trade Commission wins its case against Amazon
Surveying Cyber Espionage: A Growing Threat to Businesses, The Economy, and Our Privacy
Full text linkAmericans are quick to celebrate the release of new technology each year; and, while advancing technology is exciting, it also creates challenges for American businesses, the U.S. Economy, and Americans’ right to privacy. As more businesses rely on vulnerable technology, cyber espionage raises critical issues such as the exposure of trade secrets, privacy breaches, loss of revenue, and more. This Article first explores the history of cyber espionage, describing major cyberattacks on American businesses and their consequences. It then explains why the legal framework regulating cybercrimes is inadequate due to the increased sophistication of modern cyber spies and their ability to conceal their identities. This Article also advocates for steps the U.S. must take to mitigate future cyber espionage attacks, including updating international laws, encouraging cross-border cooperation, clarifying ambiguities in the current legal framework, and adopting comprehensive privacy laws