Trump's Pick for Ex-Im Chief Testifies on the Hill

The transcript discusses the controversial nomination of Scott Garrett to the Eximbank, highlighting the opposition from various business groups and the peculiar choice by the Trump administration. It delves into the debate over the need for reforms in the bank, noting past reforms and the skepticism about further changes. The operational challenges faced by the bank due to board member limitations and competition from countries like China are also addressed.

Why is Scott Garrett's nomination to the Eximbank considered controversial?

• He has a background in manufacturing.

• He previously opposed the existence of the bank.

• He has strong support from business groups.

• He was nominated by a Democratic administration.

What was the focus of the reforms implemented in the Eximbank between 2012 and 2015?

• Reducing the bank's default rate.

• Increasing the number of board members.

• Expanding the bank's global reach.

• Streamlining the agency and complying with mandates.

What was the Eximbank's default rate under President Obama's administration?

• 1%

• 0.5%

• 0.25%

• 2%

What is one of the main challenges faced by the Eximbank due to a lack of board members?

• Increased competition from European banks.

• Reduced number of employees.

• Higher default rates on loans.

• Inability to approve transactions over $10 million.

How does the Eximbank's authorization compare to China's in recent years?

• Eximbank has no authorization compared to China.

• Both have similar levels of authorization.

• Eximbank has higher authorization than China.

• China's authorization is significantly higher.