David Saks: Bear Claws

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Bear Claws


I remember some bad news from Bear Stearns in July of last year. The Bear told their clients that two of their funds were close to being worth nothing. Then the big bad Bear roared in August and raised it's deadly claws, blocked withdrawals from these investment funds, and sold off the rest of the imploded funds in the Cayman Islands or elsewhere. The poor Bear was hungry. Now let's ask ourselves, just what did these funds aim to support...? You guessed it...subprime mortgages and mortgage backed securities. The Bear bank had to put up almost two billion dollars in rescue financing while bonds backed by mortgages were floating down the Hudson River. Sound familiar ? Wasn't it about the same time Bank of America tried to play superhero with Countrywide with a two billion dollar loan (ahem...option to purchase?) to the company? And did Bank of America end up with the failed lender? They did, by golly. Just to prove that they weren't bad guys, Bears' execs gave up their bonuses at Christmas time and admitted that they had a "dismal year". And wasn't it weird how Bears' CEO, Jimmy Cayne, announced his retirement in January on the heels of Bear Stearns first quarterly loss as a public company and announced total subprime-related write-downs of $1.9 billion? Since those problems came to light last summer, the stock price has plummeted from $150 to it's Monday buyout of 2 bucks a share. The Bear went into hibernation while the looting of America continues. Hooboy...when will it end? Seven years?

....addenda-I heard the price went up to 10 bucks....durn...thar's a bear in them thar hills, Loweezy. Nobody could possibly have done anything illegal-like, could they?

David Saks

Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.


Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.





"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


  Real Estate Crimes


Click "HERE" For Today's Question



TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis



America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 3 commentsDavid Saks • March 18 2008 02:05AM


very thought provoking - thanks Teresa
Posted by Teresa Berry over 12 years ago
What a great pic of the bear. did you take this? I used to life in CO, and sometimes we'd have a neighbor with a bear on his porch! This one looks like it was at someone's sliding glass foor. yikes!
Posted by Mara Hawks, Inactive-2012 REALTOR - Homes for Sale Auburn Real Estate, AL (First Realty Auburn ) over 12 years ago

Thanks, Teresa.

Thank you, too, Mara. The bear's just the usual old clown raising his catcher's mit for peanuts at the zoo.

Posted by David Saks ((retired)) over 12 years ago

This blog does not allow anonymous comments