Federico Buenrostro was the CEO of the California Public Employees' Retirement System (CaIPERS) from 2002 to 2008: Alfred Villalobos was a CaIPERS board member from 1993 to 1995. Buenrostro created false documents that enabled Villalobos to make money as a placement agent between CaIPERS and Apollo Global Management, a pension fund investment firm. The two were indicted in March 2013 for conspiracy to commit mail and wire fraud (among other charges). The CaIPERS Web site is

www.calpers.ca.gov.

a. Which school of ethical thought guided Buenrostro and Villalobos? Justify your response.

b. How would proponents of the other schools discussed in the chapter evaluate the ethics of their actions? Justify your response.