This is preaching to the choir, especially on this site of self-proclaimed technologists. Yeah, we know more oversight/regulation needs to happen in certain nascent industries. We also know how awful things could get; you just told us. Blog posts like these is just wasting breath. Getting out and doing something and getting involved in the political process now is what will be helpful...so when the last baby boomer in a position of political power finally shuffles off the mortal realm (and we can have a weeklong celebration) we will have well-educated people on the issues that matter ready to ascend to power.
Then again, who am I kidding. We're talking about politics.