July 17, 2013


WASHINGTON – Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement regarding the confirmation Fred Hochberg to be President and Chairman of the Export-Import Bank of the United States.
“Fred Hochberg’s confirmation for a second term is good news for American workers and businesses. After taking the helm of the Bank in the midst of the worst financial crisis since the Great Depression, Mr. Hochberg’s leadership expanded financing for American exporters when private financing was nearly impossible to acquire. Over the past four years he has proven he is the right man for the job and I thank him for his willingness to continue to serve. 
“His confirmation is also critical for the continued success of the Ex-Im Bank. It ensures the Ex-Im Bank has a quorum of members so it can continue to fully function.  Without his confirmation the Bank would have been hamstrung and would not have able to continue to support an estimated 255,000 American jobs at 3,400 companies – most of which are small businesses.”