Here's an article from 1999 before GW was president that pretty much forcasted what would happen if the economy slowed.

From New York Times Article

"In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's"

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New York Times Article 1999