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The Treasury Payment System Elon Musk Now Has Access To

2025-02-05 · 29 min · 12 entities

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Asserted relationships

  • → discusses Business concept
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    evidence rules-v4
    Feed category: Business
  • → discusses News concept
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    Feed category: News
  • → discusses Investing concept
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    Feed category: Investing
  • → discusses News Commentary concept
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    Feed category: News Commentary
  • → hosted by Bloomberg company
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    Feed author/publisher: Bloomberg
  • → discusses Business News concept
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    Feed category: Business News

Entities found in this episode

concepts 9

  • mentioned Business concept
    0.50
    evidence rules-v4
    Feed category: Business
  • mentioned Investing concept
    0.50
    evidence rules-v4
    Feed category: Investing
  • mentioned News Commentary concept
    0.50
    evidence rules-v4
    Feed category: News Commentary
  • mentioned Business News concept
    0.50
    evidence rules-v4
    Feed category: Business News
  • discusses Business concept
    0.40
    evidence rules-v4
    Feed category: Business
  • discusses News concept
    0.40
    evidence rules-v4
    Feed category: News
  • discusses Investing concept
    0.40
    evidence rules-v4
    Feed category: Investing
  • discusses News Commentary concept
    0.40
    evidence rules-v4
    Feed category: News Commentary
  • discusses Business News concept
    0.40
    evidence rules-v4
    Feed category: Business News

companys 2

  • mentioned Bloomberg company
    0.70
    evidence rules-v4
    Feed author/publisher: Bloomberg
  • hosted by Bloomberg company
    0.40
    evidence rules-v4
    Feed author/publisher: Bloomberg

books 1

Episode description as stored
Elon Musk and his Department of Government Efficiency (DOGE) have gained access to a unit within the Treasury Department called the Bureau of Fiscal Service. But what does this unit actually do? How critical of a role does it play in the operations of government, and potentially, financial markets? On this episode, we speak with Nathan Tankus, the author of the Notes On The Crises newsletter. He explains both the technical aspect of this office, as well as the legal questions surrounding impoundment and the ability of the executive branch to cut off payments that have been previously authorized by Congress. We also talk about the operational risks and the potential disaster scenario should this system — which has been built in COBOL over decades — go down. Read More: US Treasury Brings In Two Members From Musk’s DOGE Team Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.