Today's hearing on privatizing Fannie Mae and Freddie Mac will focus not on cutting their government ties but on protecting taxpayers from bearing the brunt of their federal sponsorship, Rep. Richard H. Baker said.

In an interview Tuesday, Rep. Baker, chairman of the House Banking subcommittee on capital markets, securities, and government sponsored enterprises, said he will investigate whether Fannie Mae and Freddie Mac can operate safely over the "long haul."

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