Regarding the comment on regulations as fallout from Enron: One managing partner at Arthur Anderson's Houston office took complete control of all functions dealing with Enron. The "Enron disaster" occurred because one man prevented internal controls of Arthur Anderson from being applied to Enron and the partner in charge of AA's worldwide energy business was prevented from the normal audit discovery process. None of the regulatory changes solve this problem. There was always collusion between the accounting 'industry' and their clients. That continues today in auditing and consultancy.
The accounting 'industry' exists because of regulations starting with the federal reserve act and the income tax. Without those regulations, most of the accountants, tax consultants, and IRS employees would be applying their talents in more productive ways, likely resulting in innovation.
More regulations do not solve problems created by regulations.
That is especially true when the original regulations created monopoly power in banking and credit creation, simultaneously destroying competition in the equity markets.

Simply put. Thank you.

I love Gilder's last name. His economics is as good as his name.

The formula is simple. I would say that Obama and progressives understand it. They just don't want anything to happen outside of their control so they ignore it.

Freedom --> Knowledge --> Innovation --> Economic Growth