Fannie Mae to Feel Impact of Falling Home Prices

CNBC reports:

As home prices continue to decline, Fannie Mae expects to be negatively effected, its chief executive told CNBC on Tuesday.
“We expect that home prices will continue to deteriorate though the balance of the third quarter, then stabilize when we start to see a gentle recovery in the beginning of next year," said Michael Williams, CEO and president of Fannie Mae.

Gentle words from America's biggest con men.