Patrick J. Tiberi: “Just last week, back in central Ohio, as we were home during the Memorial Day recess week, I convened a meeting--and I'm…”

“Just last week, back in central Ohio, as we were home during the Memorial Day recess week, I convened a meeting--and I'm a former Realtor, a recovering Realtor. We had real estate folks on the commercial real estate side. We had small businesses. We had business or building managers, building owners and managers and bankers in the meeting. To your point, they said that the commercial real estate market, if Congress doesn't deal with this issue soon, is going to make the housing meltdown look like minor league compared to what could happen on the commercial real estate side, not just in Ohio but across the country. This is happening very, very soon. As we deal with this financial regulatory bill that is coming soon, which is in conference committee today, that could actually add to this problem by restraining credit and by creating a bigger problem with respect to access to capital. In this Congress today, with the majority, we are really heading for a disaster of epic proportions if we don't deal with this.”