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So no one listened when a few independent thinkers sounded the alarm. That's depressing. I think I'll just go diversify my portfolio to protect my retirement.

If we don't do something about the Enrons of the world, we put all of our portfolios at risk. It isn't only true believers who lost money on Enron, supposedly conservative investors sank millions into Enron stocks and funds. And they continue to sink money -- including, possibly, parts of your retirement -- into other existing Enron-esque companies.

Enron was never alone in its ways. The CEO of Global Crossing Unlimited, the largest telecommunications company ever to go belly up, is walking away with over $700 million from his bankrupted company, while the shareholders weep. Global Crossing's accounting firm is Arthur Andersen.

The share price of a Bermuda-based, Beverly-Hills-run conglomerate called Tyco is dropping after word got out that it practices "aggressive accounting." Tyco's two top execs swore their faith in the company, saying they rarely if ever sold their own stock in it. They neglected to mention the $100 million they had already cashed out. Sound familiar?

Since none of our current safeguards worked, the public should demand better safeguards. The corporate raiders are, by in large, making a killing at everyone else's expense (even if Kenneth Lay does have to sell his ski houses). Wall Street isn't likely to stand up and demand greater accountability and systemic change. It's going to have to be the public.

Michelle Chihara is a staff writer and editor at AlterNet.org. *