As dawn breaks over the Gulf of Fonseca, southeast of El Salvador, Patri Friedman sets out for a jog. He trots past domed hothouses filled with fruit trees and feels the sidewalk sway gently underfoot as a tugboat chugs by with a floating apartment building in tow. The year is 2024, and Friedman lives on a so-called seastead, a waterbound city of some 1,000 people who produce their own food, their own energy and -- most important -- their own laws.
The appalling -- yet hardly surprising -- news that Robert Khuzami, the former enforcement director at the Securities and Exchange Commission, has cashed in his four-year stint for a $5 million-plus salary at Kirkland & Ellis, a prominent Wall Street law firm, is the latest example of the corrupt relationship between money and power in the U.S.
Baker & McKenzie LLP will merge with United Arab Emirates 40-lawyer law firm Habib Al Mulla on July 1, to create Baker & McKenzie Habib Al Mulla. The firm will advise clients on local and international law in its Dubai offices and, with regulatory approval, in Abu Dhabi.