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Christinaing a ing ing aguiler these problems recently. anything you can give themmed aa advice, having written the book, with considerable perspective, how can they avoid the problems that they seem almost inevitably to get into? >> i'm not a great one for giving advice, but i can say what worked for me. and i think that i can -- i was sober for ten years in a 12-step program, but i didn't change a lot because i hadn't followed what they prescribed. they suggest you do self-examination. take a look at -- we know we have a lot of resentments about things that happened in our past, i against my...

President or else to go for all the marbles and try to stop it. i had been arguing through 2009-2010 this bill is not irredeemably bad. there are things you don't like, and i would have voted no on the final package but there are good elements, the element taken from mitt romney's plan in massachusetts and many trace back to the republican alternative to the clinton plan back in the 1990s. so, build on those. draw a line against the elements you don't like. max baucus was desperate for a deal. there was a deal to be done. instead, we made the choice to go politically for total defeat. that cho...

I think that's very positive and i think what's most responsibility that we recognize we need a systemic risk regulator. the system did spin out of control and hartened they're talking together. it is hard to imagine one on which we'll come together. >> do you think there's real momentum here? because, as we know, memories are short and the more watered down the reforms may be. >> here's the fact. we had an enormous shock to our system. like a patient with a massive heart attack and it would be a tragedy if we didn't do the systemic reform, the self examination that's required. mark zandy poin...

Firm. >> it wasn't clear we could return to anything we had known before. >> reporter: what made you decide to stay? >> we just decided we can't be away from it. this is the time. you either come and make it work or leave and find a new life. >> reporter: where are we now? >> we're in the turbo squid headquarters office in new orleans. >> reporter: but matt's fledgling company, turbo squid, which sells 3-d computer models for commercials, movies, even here on cnn, faced the same problem hundreds of others did -- communications, transportation, banking, and even basic civic services were in sha...

All these difficulties they faced, so they got creative, and they got coordinated. and a man in here knows exactly how it happens. >> this storm could have destroyed what this whole place, but what it really did was gave us a chance at intense self-examination. >> reporter: that's matthew hecht with greater new orleans, inc.. he points out aggressive efforts to improve schools, provide tax incentives for industry and a fresh business recruiting campaign have helped keep new orleans' unemployment rate to less than half that of many other cities. in addition ambitious young businesses like turbo...