The financial pages are abuzz over the anniversary of the the collapse of Lehman Brothers , and President Obama is going to mark the occasion by speaking about Wall Street on Wall Street. He is expected to address regulatory reform and the government's continuing efforts to drive economic recovery. As for Lehman Brothers , David DeMuro provides a particularly interesting perspective. DeMuro was Lehman's head of compliance and regulation. Earlier this summer he spoke at Complinet , a firm specializing in compliance issues. And DeMuro stressed that the issues at Lehman were not unique to that firm. He places a lot of blame for the collapse on a sort of bubble euphoria. He and others may have seen red flags, particularly with mortgage subsidiaries, but the firm did not change its ways because of what DeMuro calls an "almost religious belief in the veracity of the models that comforted a lot of people": The Great Crash of 2008: An Insider's View of a Global Economy in Crisis and the Regulatory Failures from complinet on Vimeo .