- JPMorgan CEO, Jamie Dimon expressed his support of E. Musk's idea to start a DOGE or Department of Government Efficiency
- Elon Musk is excited about the possibility of joining Donald Trump
- The idea of such an agency was brewing for a while
JPMorgan CEO, Jamie Dimon expressed his support of E. Musk's idea to start a DOGE or Department of Government Efficiency
JPMorgan Chase CEO J. Dimon says that he approves the proposal to create a new department of government efficiency that Elon Musk offers. Technology mogul and billionaire calls a DOGE. Musk proposed creating a government efficiency commission during a public discussion with Trump.
In an interview with CNBC-TV18, Jamie Dimon, a Bitcoin skeptic, supported Musk's idea. He emphasized the need for governments to be more efficient and ensure they provide value for the money they spend, comparing it to Al Gore's past efforts to reinvent government processes[1].
So Elon, this idea about having an efficiency commission, I actually like the idea. I think governments have to become more efficient, more competent and look at when they take money what do they get for it?" Dimon said. "I actually think it's a very good idea."
During their discussion, Musk shared his willingness to help with the proposed efficiency commission, and Trump liked the idea. Later, in a speech at the Economic Club of New York on September 5, Trump talked about setting up this commission to audit and suggest major reforms for the federal government.
Elon Musk is excited about the possibility of joining Donald Trump
Elon Musk, the CEO of Tesla and SpaceX, recently suggested he might work with Donald Trump if Trump is elected again. Trump also mentioned he would happily give Musk a significant role in his administration, praising him as very intelligent and capable.
On September 3, he mentioned on X that he's eager to tackle government waste and unnecessary rules. In an interview with CNBC, Jamie Dimon mentioned that he is not currently endorsing either Donald Trump or his opponent, Vice President Kamala Harris, for the presidency.
Trump mentioned to Bloomberg in June that he might consider Dimon for the position of Treasury Secretary if he wins the election, saying, "He is someone I would think about, for sure." However, Trump retracted this statement in July on Truth Social, claiming he never thought about or discussed Dimon or Larry Fink for the Treasury role, suggesting misinformation might come from the opposition[2].
Dimon, on his part, has expressed contentment with his current role at JPMorgan. In an interview on CNBC's "The Exchange" in August, he repeated how happy he is in his current job, saying, "I'm very happy with what I'm doing." More recently, in another CNBC interview, he didn't expect to be offered the Treasury Secretary position.
The idea of such an agency was brewing for a while
In the past, figures like former President Ronald Reagan, who served from 1981 to 1989, have set up similar commissions, known then as the Grace Commission, to enhance government efficiency. However, the proposal for this new task force has its critics.
The planned commission would audit the federal government's financial and operational performance, seeking out fraud and improper payments in government programs. It aims to recommend significant reforms to improve efficiency and plans to eliminate fraud and improper payments within six months of its formation.
Despite these goals, Everett Kelley, the president of the American Federation of Government Employees, representing 750,000 federal workers, criticized the initiative[3].
In an interview with Reuters, Kelley argued that Trump and Musk's plan could undermine the federal government's nonpartisan civil service by replacing dismissed employees with their own supporters, stating, "There's nothing efficient about that. "
