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Repeated scandals in early 2000 resulted in a bolstering of corporate governance in numerous countries. In the US, Sarbanes-Oxley strengthened the duties of boards. A similar move was experienced in France with the Financial Security Law and the Afep-Medef code. The UK introduced a non-binding vote on remuneration in 2002 giving shareholders a voice over executive compensation. The latest financial crisis of 2007-2010 also followed the same trend. In the US, Dodd-Frank introduced mandatory say on pay and proxy access. So are we just using the same old medicine again and again? My description of the remedies following the previous crisis was incomplete at best or even wrong as it occulted a fundamental change in paradigm.