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Wolf Blitzer delivers the most important breaking news and political, international, and national security stories of the day. Tune to The Situation Room weekdays 5-7pm ET on CNN.

August 8th, 2011
07:37 PM ET

Fannie Mae, Freddie Mac downgraded

Lisa Sylvester reports on the S&P's downgrade of the two mortgage giants and the impact it will have on the U.S.

RELATED STORY: Dow drops 634 points after S&P downgrade

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Filed under: Economy • Fannie Mae • Freddie Mac • Lisa Sylvester