The OCC Misses the Point on Toxic Waste

The OCC Misses the Point on Toxic Waste

By Daniel Edstrom
DTC Systems, Inc.

We all see what we want to see.  But when others control the conversation, it is easy to miss the point.  As a regulator the Office of the Comptroller of the Currency should be taking the lead and controlling the conversation, but in reality, they have been bridled and are being led around by the nose.  Conspiciously absent are numerous issues they as a regulator have the responsibility of dealing with.  This article is timely in response to an article by Neil F. Garfield (, which is a response to Yves Smith of Naked Capitalism article (, which is a response to a Reuters article (  But I found none of these articles until I was finished writing this post.  Take the following random and critical issues:

  • Are the loans in the pool?  Were the loans ever in the pool?  Does the pool exist?  Did the pool perfect interest in any of the loans?  This issue is very political and the OCC in our opinion will never address this issue or look into this.
  • What loans are in default?  Can a loan be in default?  What comes first, the default or the loss?
  • Are there any compliance issues?

Continue reading “The OCC Misses the Point on Toxic Waste”

Interesting California Civil Codes

Interesting California Civil Codes

By Daniel Edstrom
DTC Systems, Inc.

Those who haven’t read these should read through them for educational purposes.

California Civil Code Selections


Property of any kind may be transferred, except as otherwise provided by this Article.


A mere possibility, not coupled with an interest, cannot be transferred.


A right of reentry, or of repossession for breach of condition subsequent, can be transferred.


Any person claiming title to real property in the adverse possession of another may transfer it with the same effect as if in actual possession.


A grant takes effect, so as to vest the interest intended to be transferred, only upon its delivery by the grantor.


A grant cannot be delivered to the grantee conditionally. Delivery to him, or to his agent as such, is necessarily absolute, and the instrument takes effect thereupon, discharged of any condition on which the delivery was made.


A grant may be deposited by the grantor with a third person, to be delivered on performance of a condition, and, on delivery by the depositary, it will take effect. While in the possession of the third person, and subject to condition, it is called an escrow. Continue reading "Interesting California Civil Codes"