The Treasury Payment System Elon Musk Now Has Access To
Odd Lots5 Feb 2025

The Treasury Payment System Elon Musk Now Has Access To

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.

    Episoder(1195)

    Episode 18: The Obscure Report That Spawned the ETF Industry

    Episode 18: The Obscure Report That Spawned the ETF Industry

    In 1987, investors watched in horror as the Dow Jones Industrial Average plunged 22 percent in an event that became known as "Black Monday." Months later, the U.S. Securities and Exchange Commission p...

    7 Mar 201628min

    Episode 17: How One Analyst Uncovered a $7 Billion Fraud

    Episode 17: How One Analyst Uncovered a $7 Billion Fraud

    In late 2008, as markets tanked thanks the the global financial crisis, two massive Ponzi schemes unraveled. One was the $17.5 billion fraud engineered by Bernie Madoff. The other was the smaller but ...

    29 Feb 201625min

    Episode 16: Making Money When Everyone Else is Losing Theirs

    Episode 16: Making Money When Everyone Else is Losing Theirs

    Everybody knows by now that a handful of hedge funders made a fortune by betting against housing before the market crashed back in 2008. But, people who bought at the bottom, when everyone else was pa...

    22 Feb 201622min

    How a Rural Irish Farmer Became an Expert on the Euro Crisis

    How a Rural Irish Farmer Became an Expert on the Euro Crisis

    In theory, anyone with an internet connection can became an expert on just about anything from just about anywhere. In the latest edition of Odd Lots, we speak with Lorcan Roche Kelly, a cattle farmer...

    16 Feb 201629min

    Episode 14: The World’s Only Stand-Up Economist

    Episode 14: The World’s Only Stand-Up Economist

    On today’s episode, we’re taking the “dismal” out of the dismal science by interviewing Yoram Bauman, who bills himself as the world’s only stand-up economist. Join us for a Laffer curve-a-minute romp...

    8 Feb 201624min

    Episode 13: How a Professor Won Gambling on an Obscure Sport

    Episode 13: How a Professor Won Gambling on an Obscure Sport

    Episode 13: Everyone dreams of being able to win almost every time when gambling. Of course, whether it's blackjack, horse betting, poker or the stock market, it's really hard to consistently win. But...

    1 Feb 201625min

    Episode 12: How a Consultant Foresaw the 2015 Commodities Crash

    Episode 12: How a Consultant Foresaw the 2015 Commodities Crash

    On this episode, co-host Tracy Alloway is joined by Bloomberg Markets reporter Luke Kawa for a journey back in time. As the global elite mingle at the World Economic Forum's annual meeting in Davos, S...

    25 Jan 201623min

    Episode 11: How David Bowie Became a Financial Product

    Episode 11: How David Bowie Became a Financial Product

    When the world lost David Bowie this month, it lost one of modern music's undisputed geniuses. Less well-known is Bowie's contribution to the financial world. In this episode of Odd Lots, hosts Tracy ...

    19 Jan 201633min

    Populært innen Business og økonomi

    stopp-verden
    dine-penger-pengeradet
    lydartikler-fra-aftenposten
    e24-podden
    rss-penger-polser-og-politikk
    rss-borsmorgen-okonominyhetene
    pengepodden-2
    pengesnakk
    utbytte
    rss-politisk-preik
    finansredaksjonen
    morgenkaffen-med-finansavisen
    tid-er-penger-en-podcast-med-peter-warren
    livet-pa-veien-med-jan-erik-larssen
    stormkast-med-valebrokk-stordalen
    rss-markedspuls-2
    rss-pa-konto
    rss-sunn-okonomi
    lederpodden
    rss-investering-gjort-enkelt