Rep. Spencer Bachus, R-Ala., Friday said legislation he introduced dealing with the government's Troubled Asset Relief Program, or TARP, in part seeks to withdraw investments in companies where the government holds a more than 15% stake. In an interview on CNBC, Bachus said the legislation, which creates a trust to manage the TARP investments, is needed to end "political interference" with those companies, and that the companies themselves by and large "want an orderly exit." Bachus added that he believes the government will lose its entire investment in Freddie Mac (FRE) and Fannie Mae (FNM).

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-Dow Jones Newswires