Brian Moynihan has some tips for Elon Musk when it comes to the DOGE process.

But his advice on new processes. Government Effectiveness, DOGE, May fall on deaf ears when talking about project leadership: Tesla CEO Elon Musk and Politician Vivek Ramaswamy.

In particular, Musk is known to command his company in a special way – whether Most shots Of business staff Or Sleep in his office and factory..

While the richest man on the planet, the method has clearly settled in some areas, it has hurt others. XFor example, there was a power outage due to staff Who can fix the platform when it is broken left.

Moynihan suggests more restraint to reduce federal agency costs, especially if institutions remain effective.

“You have to be careful in the broadest context, because another element of the federal government of the economy, so if you shrink it, the question has to be made by the private sector and elsewhere,” Moynihan told PBS News. Interview On Tuesday.

He added: “The theory is that it will be developed by other places, because at the end of the day it is “Financing with debt is squeezing out other forms of financing.”

The 65-year-old executive seems confident that Musk and Ramaswamy can facilitate government agencies. After all, “you can make any place more efficient.”

At BofA, spending in 2010 was in the high range of $ 60 billion to $ 70 billion, Moynihan said.

Despite inflationary pressures and better sectors than two decades since then, banks will have to spend about $ 60 billion this year.

“That is for efficient digitalization and automation of everything,” Moynihan explained. “So I'm sure they can get there, but you have to do it in a reasonable way that ensures it sticks to the ribs. If not, cut it immediately.

Rationale can prove to be something of a summons. Musk has shown his attitude Scared federal workers

This. SpaceX Founder Posted on his social media platform last month. That he had a “mandate to clear a mountain of provisions that did not serve better.”

Likewise, men Worth $ 349 billion Already Set the tone for working conditions at DOGESaying that the group will be formed by “small government revolutionaries with a high IQ who are willing to work 80+ hours a week on a terrible cost reduction”.

While Musk is looking for a revolutionary, Moynihan suggests paving the way for a better approach: “The challenge for the government is, can you cut the ribs?” He said.

“Ronald Reagan will do it. Al Gore will do it. George W. Bush will do it. Barack Obama will do it. Everyone will make the government more effective and it is difficult because it is complicated.

Customer service

Another difference between Musk's business efforts and his mandate at DOGE is who he has to answer.

At Tesla, it is his shareholder: a group of people who support the CEO of music $ 100 billion package.

The story is similar in X, although the Big Tech billionaire also has a major theme in the game, funded by the fund, which he went into to buy $ 44 billion.

And while Musk clearly does not want the platform to fail, he remains autonomous. Make a public call Lucky 500 CEO by name And accuse them of boycotting advertisements.

Things in government are different. One cannot simply tell the Senate or the American public to “hang out”.

“At the end of the day, they are serving the American people. So can it be more effective? No questions asked. You have to do it carefully so as not to disturb the service, ”Moynihan stressed.

“I will not worry about the economic impact as much as I am worried about. We must make sure that the core services, the IRS, work properly, the banking regulatory authorities work properly, the SEC works properly because the capital is coming in.

“On the other hand, I guarantee you with any company, any enterprise, this enterprise will always have the efficiency you can get if you go for it the right way, eliminating the work to automate. Then you can get the lasting effect.

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