While a soft economy and shrinking profits curtailed pay raises for top executives at many U.S. companies last year, that wasn’t the case at the GSEs where most entities – particularly the Federal Home Loan Banks – handed out some big pay checks in 2002. Fannie Mae Chairman and CEO Franklin Raines was by far the highest paid GSE executive last year, pocketing a big $11.64 million in total compensation. But Raines also headed