At one startup I was at, the CEO and CFO both needed to sign all checks (his was before wire transfers were so commonplace), That policy started when the founde

At one startup I was at, the CEO and CFO both needed to sign all checks (his was before wire transfers were so commonplace), That policy started when the founders were self-funding the company. It was their money they were spending. Prudence gets left behind as companies grow and accept outside money. After a while, a CEO can decide, basically on his own, to drop $16 billion on a company with IIRC TTM revenue of about $30 million. Easy come, easy go.