Check out the piece by Gary Weiss in Salon: Enron changed nothing.

According to Weiss, the only lesson corporations learned was how to point the finger at everyone else. And Sarbanes-Oxley will do nothing to stop it happening again.

"Theoretically, Sarbox would have prevented Enron from happening. Realistically, it wouldn't have done a thing, because an exec with "derring-do" such as Skilling (to quote a February 2001 Business Week cover story) would surely have found a way around it. Not that it would have taken much effort. Sarbox requires, for example, that at least one member of every board audit committee be a "financial expert." It requires that an "internal control report" describe how management has done a good job of tackling all those pesky numbers and checked 'em real good. And, of course, the company must tell us -- immediately! -- about any changes in the "code of ethics" for its chief number crunchers. The cost of complying with these and similar requirements has annoyed some smaller companies, adding to the overall luster of Sarbox when viewed from afar.
"What Sarbox has never done, and never could do, is change corporate behavior, anymore than you can stop a car thief by taping a Do Not Steal sign to the dashboard. Remember that CEOs who are going to pull off a mega-scam like Enron, or even a routine stock swindle or accounting trick, are not going to be deterred by a law book or someone with a stinkin' badge. They have a more pragmatic view of corporate responsibility -- they feel they don't have any. If you listened closely, you heard the Enron management credo at the trial. It is the same philosophy that has been employed by second-story men and Mafia bosses since the dawn of the first proto-scam. It can be summed up as, 'If it's broke, it ain't broke, and anyway it ain't my fault.' "

This is why the calls to overhaul Sarbanes-Oxley won't stop.

The latest is another strong attack from Professor Stephen Bainbridge in TCS Daily.

Bainbridge raises some excellent points.

But the problem for those wanting to dismantle Sarbox boils down to this: while the slums of the rich are still, in the words of Weiss, breeding corporate delinquents, laws like Sarbanes-Oxley are only likely to get more entrenched.