At a later session on raising capital in the marketplace, panelist Lisa Sarajian, a managing director in Standard & Poor's Real Estate Finance Group, says investors fear real estate. "We've seen in the past that what's brought down the bank was a real estate deal. Investors want to see real estate companies discipline themselves," she says. "Right now it's coming from external forces."

"We have had some black eyes over the years," moderator Jay P. Leupp, managing director for Robertson Stephens, responds, "but this is an industry that is maturing. The sector has done a fairly good job of disciplining itself."

Woodward's chat had audience members weigh in on who would benefit the market more if elected this fall. While the majority raised their hands in favor of Bush, the majority agreed heartily with one man who shouted out that he only supported Bush because he was the only Republican running. Clinton's economic plan of 1993 made it onto the list of reasons for the current economic boom. Some noted Gore could succeed because he could be viewed as more likely to sustain those policies. Woodward would not make predictions, but in answering another question seemed to indicate the possible negative impact on the economy of Bush's plans, such as his health care plan.

Overall the panelists seemed to feel that a recession was inevitable and there was going to be a cooling of the market. None seemed to be too rattled by it and seemed to think as bad as it might get, it would not be comparable to the recession of Bush's father's administration.