President Obama returns to the proverbial scene of the crime with a renewed focus Monday when he marks the one-year anniversary of the collapse of Lehman Brothers at New York City's Federal Hall on Wall Street.
"[He] will discuss the Administration's plan to wind down government involvement in the financial sector, lay out a strong case for immediate action on regulatory reform and reiterate the importance of global coordination in preventing future crises," an administration official told Fox.
Though Mr. Obama was not President at the time, Lehman's implosion triggered a severe market crisis which, in turn, inspired a series of regulatory reform proposals by a young Obama administration back in June.
In his Wall Street speech, Mr. Obama will lean on Congress to act on the proposals he has sent them; from regulations overseeing the systemic risk posed by large financial institutions to a new agency to oversee consumer financial products.
"The speech...will focus on the need to take the next series of steps on financial regulatory reform to ensure what happened a year ago doesn't happen again and cause the type of havoc that we've seen in our economy," White House Press Secretary Robert Gibbs told reporters Friday.
The President, attempting to reign in increasing public discontent over government influence, notes that the previous administration began some of the very measures Mr. Obama is advocating today.
"[W]hen I walked in-- the banking system, the financial system was under the verge of collapse. And what have I done. I've essentially taken the program that was voted on by the previous Congress, supported by the previous Republican president, and we've made it work."
Despite getting sidetracked by a monstrous health care overhaul, Presidential economic adviser Larry Summers says a financial overhaul is still doable, "The president famously said during the campaign that to be president you have to be able to do more than one thing at once...I think that same idea applies to the 535 members of the Congress."
His crisis or not, the President says he understands the public is growing tired.
"This is a very difficult economic environment. People are feeling anxious. And we had to take a series of steps not of-- in circumstances obviously not of my choosing. And I think it is absolutely fair to say that people started feeling some sticker shock."