Slashing the pay of Fannie Mae and Freddie Mac executives would almost certainly lead to an accelerated brain drain and increased losses that would have to be covered by taxpayers, said the heads of the two government-sponsored enterprises and their regulator during hearings on Capitol Hill this week. It’s a tough sell. The House Financial Services Committee this week approved legislation to suspend bonus payments to top GSE officials and move Fannie and Freddie to a government pay scale. Federal Housing Finance Agency Acting Director Edward DeMarco appeared before the Senate Banking, Housing and Urban...