The Bush administration turned up the heat this week on Fannie Mae and Freddie Mac by announcing separate “reviews” of the government-sponsored enterprises’ non-mortgage investments and the government’s traffic-control processes for approving GSE debt issues. Coming on the heels of Fannie Mae’s recent $400 million settlement agreement with federal regulators, the new GSE regulatory initiatives were seen as stimulants to prod a stalled legislative process to create a new government regulatory apparatus for Fannie, Freddie…