Fred P. Hochberg Quotes
We support U.S. jobs, especially when those jobs are facing off against foreign competition.
The Export-Import Bank lends money at good interest rates to foreign businesses to buy goods manufactured in the United States. It creates hundreds of thousands of American jobs each year, and costs the American taxpayer nothing; the bank actually makes money, None the less, it has been the policy of the extremist conservative Republicans like the Tea Party to oppose the bank’s charter renewal.
Fred P. Hochberg, Chairman and President of the Export-Import Bank of the United States, Quoted in Joe Nocera, The Latest Tea Party Piñata, New York Times, June 9, 2014
Sourced by: Eigen's Political and Historical Quotations
The Tea Party, having had little success at the polls, tended to pick one element of government with most members and friends bashing that element blindly, like the blind-folded children at a Piñata Party. In this case it was the Export Import Bank that enabled over 250,000 jobs last year. The Tea Party which is always complaining about government spending, surprised most observers when they attacked the Export-Import Bank. It is one of the very few government agencies that costs the taxpayer nothing. As a matter of fact, it actually produces a profit for the taxpayer and reduces the deficit. See {640781}.
It is interesting that the first national women’s political party was a strong advocate of protectionism and saw free trade as an unfair hurdle for mostly male workers. At the time, the Republicans were staunch protectionists, and the Democrats, the free traders thus illustrating that the major parties continuously flip-flop on major issues.
This surprising quotation, along with others a far from main steam American views (See {623830} ) assured her election defeat.
This historical quotation shows us that the nation under Republican control at the end of the 19th century was highly protectionist. In addition. It shows us how a party can flip flop on its most cherished principles. A century later, free trade was the cornerstone of Republican philosophy and opponents who held to the Republican 19th century principles were accused of being detriments to the American growth and economic system.
Fred Philip Hochberg is an American businessman and civic leader. After nearly two decades as an executive, including five years as President at the Lillian Vernon Corporation, he then served in various leadership roles at U.S. government agencies, non-profit organizations, and in academia. From 2009 to 2017, he was Chairman and President of the Export–Import Bank of the United States, becoming the institution's longest-serving Chairman.
