Political Career
In 1998 Hochberg became deputy administrator of the Small Business Administration (SBA), later becoming the organization's acting administrator. He remained in the post at the SBA until January 2001, serving also on US President Bill Clinton's Management Council.
Hochberg was a bundler of contributions for the Obama campaign; some bundlers collected $500,000 for the campaign.
Hochberg was an Agency Review team leader for the SBA on then-President-elect Barack Obama's transition team.
President Obama nominated Hochberg to be Chairman and President of Ex-Im Bank on April 20, 2009. The U.S. Senate confirmed his nomination by unanimous consent on May 14, 2009, for a term ending on January 20, 2013. He was sworn in on May 21, 2009.
Press reports had suggested Hochberg might be chosen as Obama's Secretary of Commerce, becoming the first openly LBGT member of the US Cabinet, but ABC News reported on January 9, 2009 that Hochberg would instead be appointed chair of the Export-Import Bank, which finances the sale of US exports. Today as head of Ex-Im Bank, Hochberg is one of the most senior openly gay members of the Obama Administration.
Read more about this topic: Fred Hochberg
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