Mamas don't let your babies grow up to be cowboys.
The real harm of helicopter parenting: correcting the problems we encounter in OUR generation and forgetting that our children will encounter entirely different ones. Maybe, given what massive foreclosures can do to an economy, not to mention environmental mishaps and other disasters we seem to be one step away from, we should be teaching our children hyper-cooperation rather than fostering hyper-competitive "win or die trying!" attitudes.
(Update - previous video was pulled down. The link goes to a newly released version. Thanks to Sky's Blog at the Dalai Lama Foundation for alerting me.)