So how many of the top business schools teach ethics?

A study has found that only one in four of the world's top 50 global MBA programs (as rated by the Financial Times in their 2006 Global MBA rankings) required students to study as ethics as a stand-alone course. True, the evidence suggests it could be a five-fold increase since 1988 but it's still low.

About half integrated ethics, sustainability and corporate social responsibility into their program.

More focus on ethics in business schools might not be the answer per se to fixing corporate fraud and skullduggery. But it would help. And clearly, there's some way to go.