The system is designed to split us, and we are the ones who have to engage in education and conversation in order to come together to reform the political structure.

It’s time to put the taboo subject of public ownership back on the progressive agenda. It is the only way to solve some of the most serious problems facing the nation. We contend that it is possible not only to talk about this once forbidden subject but to begin to build a serious politics that can do what needs to be done in key sectors.

Room 148 of the State Capitol might as well double as a Capitol broom closet. That’s where the House Consumer Affairs Committee this morning rushed out amendments to House Bill 2191, which legalizes predatory payday lending in Pennsylvania.

In the aftermath of the foreclosure fraud settlement, and as we look ahead to the working group on securities fraud co-chaired by Eric Schneiderman, one of the best people to look to for answers on how this whole thing could have gone – how it could still go – is William K. Black. The author of The Best Way to Rob a Bank is to Own One, and a central figure in exposing fraud among both financial executives and members of Congress during the S&L scandal, Black has been relentless on exposing the lax nature of regulation and prosecution during the past decade and more. His latest scoffed at the new task force on securitization fraud.

A president elected in reaction to the economic and political environment. A president hated on the left for lack of bold action and accused by the right of being a socialist. A president who appears to struggle with any sort of confrontation within his own Administration and who appears to have continuing issues with quality of staffers. A president accused of promoting class warfare and ‘uncertainty’. A president with a justice on the Supreme Court who opposes him named Roberts. A president with a wife who is, to many, as controversial as he is. A president and an Administration during a time when bold decisive action is required, but who seem to suffer from chronic timidity.

Obama or Roosevelt? Both?

Much pundit ink has been spilled pondering why the OccupyWallStreet protest has grown so rapidly and resonated so widely. But the answer is really not difficult to apprehend. Our political system is fundamentally broken by corruption and oligarchical control. Many people know this. They have rationally concluded that voting fixes none of these systemic problems precisely because the problems are systemic. And going out into the street to protest and demand an end to this corruption is the only perceived means of redress.

Yesterday was the first day of Occupy Wall Street, an action inspired by occupations that have taken place in Egypt, Greece, Spain and other countries over the past months. FDL’s The Dissenter has been covering the action live since it began and will continue to cover especially as significant developments happen.

Catch up on what happened on Day One here and here. Now, let’s resume the live blog. [And, here's a Twitter list to follow for the latest on the action.]

The Fed can’t help you. The Obama Administration doesn’t even feel your pain. The Congress hates you. But, it’s your fault if you can’t get to the sunny side of the street to join their only real constituents.

I have been talking to numerous Hill offices trying to figure out what they’re hearing on the chaotic debt ceiling debate. Someone mentioned something last night that I found odd, so I’ve been calling around trying to confirm it. But basically, I can’t find anyone in the Senate or House who says the banks are whipping this.

The next shoe is going to drop shortly as Private Mortgage Insurers are caught out with way too much liability and way too little reserves to pay them with. Ignoring the housing crisis means that it continues to do damage.