Describe the factors that contributed to the rise and fall of Nortel.

What mechanisms should be put in place to better align managers with the interests of shareholders?

Would you describe the meltdown of Nortel more as a failure of $$people$$ or of $$capital market processes$?$

What happened to Nortel that is similar to what happened to WorldCom and Enron in the early $2000$s$,$ and to Lehman Brothers, Citigroup, and many other banks during the $2008$ financial crisis?

Why do business people keep making the same mistake?

Discuss how to prioritize the following remedies to stop such recurrences: business education, regulation of accounting$/$financial markets, regulation of incentives, or regulation of punishment.