$1.$ How prevalent has the agency problem been in corporate America during the last decade? During the late $1990$s$,$ there was a boom in initial public offerings of Internet companies$($ dot.com companies$),$ supported by sky$-$high valuations, often assigned to Internet start$-$ups that had no revenues or earnings. The boom ended abruptly in $2001,$ when the Nasdaq stock market collapsed, losing almost $80\%$ of its value. Who do you think benefited most from this boom: investors $($stockholders$)$ in those companies, managers, or investment bankers?

$2.$ In a public corporation, should the CEO of the company also be allowed to be the chairman of the board $($ as allowed for by the current law$)?$ What problems might this present?