Emergency Episode: Nothing Stands Between Elon and Treasury's Payments System | Elon, Inc.

In a week of unprecedented action (and chaos) from both Elon Musk and the Trump administration, breaking news this weekend brought the Elon, Inc. team together for an emergency episode. The New York Times broke the news, and the Washington Post followed, that Musk’s Department of Government Efficiency was given access to the Treasury Department’s payment system. This system, which handles a big chunk of the government’s money transfers, including Social Security, is normally administered by a small number of non-political appointees, and it was reported that Musk’s desire to get in the gears drove a career Treasury official out of the department late this week.
This is a big deal. Musk has many apparent conflicts of interest, and beyond the finances, this is where sensitive information about American citizens is stored. To discuss this development, host Max Chafkin is joined by Sarah Frier, Big Tech editor; Kurt Wagner, social media reporter; and Dana Hull, who covers Musk for Bloomberg News.
Elon Musk’s sprawling business empire has granted the billionaire a degree of power and global influence that transcends the industries he’s reshaped. He is the leader of no fewer than six hugely influential companies, spanning electric vehicles to wartime communications, and their innovations could shape the fates of nations.
Musk is polarizing, confounding and inescapable. And he is the biggest business story of our time.
Each week, listen in as host David Papadopoulos convenes a panel of Bloomberg Businessweek journalists who are tracking Musk’s companies and the surprising ways they intersect. They break down the business mogul's latest moves and analyze what they could mean for us all.
Subscribe to Bloomberg Podcasts: bit.ly/Bloombe...
Listen to more Elon, Inc.: • Elon, Inc.
#ElonMusk #Bloomberg #Podcast #Elon
Visit us: www.bloomberg....
Follow Bloomberg Podcasts on Twitter: / podcasts
Visit our other KZbin channels:
Bloomberg Television: / @markets
Bloomberg Originals: / bloomberg
Quicktake: / @bloombergquicktake
For coverage on news, markets and more: www.bloomberg.c...

[@bleo-q7z]

Where is the anger form the congress? Where is the anger from the people? This is appalling.

[@ADadSupreme]

Congress is controlled by MAGA/GOP. What are you talking about? Why would they be angry? They are all millionaires.

[@enkrypt3d]

they are finally getting involved but I feel like they dont have many options to get in the way......

[@joendangakoroma]

Too much Talk, Talk, Talk American people; Less or No Action until the USA is Sold Away!!!

[@Vero_Smittty]

Agreed!!!

[@jdempowermentseries1446]

It is alarming that no one is actually raising the legal ramifications of what is doing. He is directly violating data protection and data privacy laws.

[@myfavoritemartian1]

The inspector General's office was supposed to be watching over it. Last week if you remember he fired the whole IG office for not doing their jobs. SO this week he sent in his own watchdogs as head of the executive branch. All according to law.

[@cahollander]

What is to stop them from cleaning out our coffers? Three plane crashes in a week and no FAA oversight.

[@Power2ThePeople78]

Congress is complicit in this coup.

[@richardhamilton276]

Wake up fellow U.S. citizens. Undoing this unlawful story may not be possible.

[@Puzekat2]

Sarah said given access. no one gave him access. He took it. Breaking news on Saturday at 5 PM means it goes on KZbin Monday. Boo.

[@bigcatlivesmatter]

Protest February 5th, at each state capital. Check online for each states time. Kansas time is 4:00

[@cybele_m]

Thank you 👍

[@Puzekat2]

Local news channels are reporting that Elon Musk was “given” access instead of illegally, breaking rules and taking access.

[@arcana_mystery]

Let maga deal with this Let them bare the burden How many federal workers voted for Trump? Feel the burn baby You voted for this.

[@raiseyourvibeandthrive]

Protest at the Treasury building at 5 pm Tues, Feb 4th... Protests at state capito!s on wed Feb 5th! Attend if you can!

[@myfavoritemartian1]

Good Luck!

[@cybele_m]

Thank you 👍

[@Pierluigi_Di_Lorenzo]

What did people expect? You ain't seen nothing yet.

[@0o0ification]

I think it's unfair to imply Federal workers are "resisting" in this piece. IMHO they are just going to try to ensure Executive branch compliance, balancing law and new leadership.

[@txexmxiii9561]

FOREIGN AGENT ELON

[@trinity8mm]

Illegal is ILLEGAL even if it is the president giving orders. 18 U.S.C. § 2071. Section 2071(a) contains a broad prohibition against destruction of government records or attempts to destroy such records. This section provides that whoever: willfully and unlawfully; conceals, removes, mutilates, obliterates or destroys; or attempts to conceal, remove, mutilate, obliterate or destroy; or carries away with intent to conceal, remove, mutilate, obliterate or destroy; any record, proceeding, map, book, paper, document or other thing deposited in any public office may be punished by imprisonment for three years, a $2, 000 fine, or both.

[@valcrist333]

What if they decide to just pay Social security to ‘loyal’ Americans. 😢

[@cyndimoring9389]

arrest him

[@MildBentley]

Half baked podcast continuous with MSM themes - nothing happened, complete or original

[@nguyenphuongchang3925]

Let those who voted Trump, hence Musk take rally and fight back.

[@arcana_mystery]

Yep

[@OldTexasRed]

I have a question, we are increasing our national debt by around 2 trillion dollars a year at the current moment. Last I checked the US had 34 trillion dollars in federal debt. In order to simply stop the growth in debt we have to find and cut 2 trillion dollars from the annual budget (and that's just to stop it's growth, that's not enough to start paying it down). The military budget can't be touched as neither party is willing to let that happen. There are also other major outflows which can't be touched due to major voter backlash. So where do we make the cuts? No matter what we do someone will suffer, no matter where the money gets cut there will be pain felt. So we need, as a nation, to figure out how that burden is going to be felt. Higher taxes? Nope, doubt that'll pass, so it's gotta come from somewhere else. I'd really like to know how the average person would try to accomplish this. Which budget items would you cut? Until I start hearing realistic plans and start seeing people start to actually think about this problem deeply. Well... I'm not holding my breath. No amount of protesting, or activism is going to balance the national budget, or start digging the country out of this massive mountain of debt.

[@dragoaus]

Did that Careers official have authority to stop Doge team? If not then he should have been forced out. Like it or not, Trumps Admin haa been elected and has mandate to make changes. Unelected career government apparatchiks as that one in Treasury has no mandate. Also taxpayers elected Trump.

[@cyndimoring9389]

doge isn't a legal department, friend. And Musk can't get a security clearance for a reason. I'm assuming you believe in the rule of law.

[@williampatton7476]

yeah but this illegal and unconstitutional. The congress allocates payments.

[@ryanwschneeberger]

He already has more money than God. He's not doing it to enrich himself. He tells you exactly what his motives are and all you have to do is believe him.

[@RebeccaLarson-v7n]

His money is the least attractive thing about him. Brilliant, powerful, honest. 🤝 he could have a dollar net worth - I’d still support him and his work.

[@gcmlrd12]

Just as he laughs off the destruction of one of his Bombs over a heavily traveled sailing area. This is his financial bomb.

[@gloriagreen7019]

You corrupt Reporters make me Puke !!!!!

[@DavidFiorillo-m3o]

There is a glut of information on the horrendous behavior of the Trump administration! By contrast, there is a poverty of information as to what American citizens of goodwill can do to contribute to solutions! I would greatly appreciate information, ideas, groups, and organizations involved in solutions, so that I can participate.

[@AuditorInvestor]

Can't you guys see any benefits from efficiencies? Nowhere in the world does government and red tape get cut down except in America - and all you guys do is whine.

[@catherinehill6788]

I understand cutting waste but the real agenda goes beyond cutting waste. Wake up!

[@williampatton7476]

Crazy how little attention this has actually received. Like where does this lead? So is Elon Musk now in control of government spending instead of congress?

[@otearoa]

FED spending is over the top stop the rot, open the books so taxpayers can see what the FEDS spent their tax money on.

[@m.schetr7398]

Sorry but Democrats and Republicans agreed that government needs cutting of it's spending. Can't do that if your not allowed to see the books.

[@catherinehill6788]

Did you elect Mr. Musk?

[@bourjoism3917]

Elon will find where these trillions went surely

[@North49191]

He will also see the value of his competitors contracts.

[@akeleven]

Saturday information is too late.

[@Del_987]

Cry about it

[@FThedems]

Go Elon go !!

[@mbluett88]

What a child!!!

[@T0NYEVANS]

Orange Man Bad 😢😢😢

[@pamelagray6854]

Class action lawsuit for privacy violations of 7.29 (72,900,000) million SS beneficiaries @ $10,000 each yields trillions = $729,000,000,000. Is my arithmetic correct. Who will represent us? And, where do I add my name to the list of those of us who have been violated?

[@BeatriceGomez-wk9nq]

Hes a super thieve

[@bdesd]

LOL you plants are criticizing how Elon runs his businesses. He's literally the most productive human of all time. NEXT!

[@garyportugal8035]

stop whining.

[@Kele627]

$6.75 trillion was the federal budget...I don't like Elon but I am glad someone is actually trying so figure out where all this money is going--I wish this was done at a state and local level also

[@williampatton7476]

Sure. But couldn't he get that information from congress who actualyl makes the spending bills? These guys just run the actual payment infrastructure right?

[@arcana_mystery]

Your wishes will all come true. Lucky you🎉

[@deepakdara7801]

😂😂😂 bunch of doomers , just spill out your hate

[@getaheadwithpetekelly]

Don't worry. Musk only needs two weeks to flatten the curve.

[@littlebirdie2]

Scammer…

[@aadityachourasia2124]

But aren't you entertained ?🌷🌷

[@getaheadwithpetekelly]

Trump's back. Mask up.

[@royrush5374]

Elon is nowhere near the worlds richest man!!! Rothchild est. wealth is 300 to 500 Trillion. 😆

[@iznet4368]

"ELON MUSK"👍🫵