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"The merry-go-round will stop, and they are not all going to get financing, " said Eric Thompson, a managing director at Kroll Bond Rating Agency.

WSJ: Commercial Property Owners Facing Higher Rates

Hicks -- praised by Republicans as a "whistleblower" -- was joined at the witness table by Eric Nordstrom, a former regional security officer in Libya, and Mark Thompson, the State Department's acting deputy assistant secretary for counterterrorism.

CNN: Doomed Libya ambassador: 'We're under attack'