katie: that was joshua friedman. joining me now is the man who did the interview, david westin.on the fed but also on constrained lending given what we are seeing in commercial real estate. >> you heard him talk about opportunities. he finds it an opportunity because there is not as much lending out there, particularly because fed -- the fed and regulators are constraining banks from stepping in. that for him as an opportunity because they can step in and make a good return if the company is solid. katie: you listen to men such as josh friedman talk about the stress and it makes sense that there are bets for them to take here. david: he was careful about saying there's a difference between companies where the fundamental business plan does not work but there are companies that are good, solid companies that of gotten overextended and there has to be an adjustment in their balance sheet and they can help them get over that hurdle and pay back the money, which is important. katie: so there are opportunities, but you have to be selective about it. when it came to his comments on re