Please note that these are two discussions and an assignmentDiscussion 1:Regulation and the Greater GoodAfter viewing The Credit Crisis Visualized at http://vimeo.com/3261363, answer each of the following parts of this question:1. How could government regulations have prevented or mitigated the credit crisis of 2008?2. Discuss whether too much governmental regulation of business or too little governmental regulation of business presents the greater danger to:a. the greater goodb. businessDiscussion 2:Administrative Law and Business Administrative Law and Business. Some argue that government needs to increase its regulation of business for the good of society as a whole, while others believe that the marketplace is self-regulating and that government intervention through needless regulation places an unfair, costly burden on businesses generally and small businesses in particular. What role do you believe government regulation should play to ensure ethical conduct by businesses? How do different political viewpoints potentially shape the answer to this question?Assignment: This is separate from the discussionsElements of a ContractSuppose that the Fabulous Hotel hires you as head chef under a two-year employment contract. After two years, another hotel wants to hire you. However, in the original employment contract you signed with the Fabulous Hotel, the following paragraph appears:“The below-signed agrees not to work as a chef for another hotel in the same metropolitan area for a period of two years after leaving our employ.”Describe and analyze the five elements of a contract that must exist for this agreement to be enforceable.Explain why this contract is governed by common law or the Uniform Commercial Code (UCC).Examine at least two circumstances in which this non-compete agreement would be unenforceable. Submit a four- to five-page paper (not including title and reference pages). Your paper must be formatted according to APA style as outlined in the approved APA style guide and must cite three scholarly sources in addition to the textbook.