1. The SEC is often called the “watchdog” of corporate America. How does it assist in preventing fraud?
2. According to the summary, why did the Waste Management executives commit the fraud?

On March 26, 2002, the SEC charged six Waste Management executive officers for the perpetration of a five year financial fraud. The following is an article summarizing the SEC’s complaint against these officers:
The complaint names Waste Management’s former most senior officers: Dean L. Buntrock, Waste Management’s founder, chairman of the board of directors, and chief executive officer during most of the relevant period; Phillip B. Rooney, president and chief operating officer, director, and CEO for a portion of the relevant period; James E. Koenig, executive vice president and chief financial officer; Thomas C. Hau, vice president, corporate controller, and chief accounting officer; Herbert Getz, senior vice president, general counsel, and secretary; and Bruce D. Tobecksen, vice president of finance.