Welcome to Torpedo Boat 92K

Torpedo Boat 92K will provide an efficient and effective way for finance and investment professionals to communicate with their elected officials and with policy makers regarding proposed legislative and regulatory solutions to the Financial Crisis. These proposals will affect the ability of financial services and investment management professionals to meet the needs of their clients.

Guiding Principles
The current Financial Crisis has underlined the need for meaningful reform of the regulatory framework in which the financial services / investment management industry operates. In the rush to address the complex issues facing the nation, finance and investment professionals have individually expressed their growing concern about the increasingly expansive role that government initiatives are playing in day-to-day decisions. The Federal Reserve and the U.S. Treasury have provided crucial facilities to address liquidity and solvency challenges faced by financial market participants. However, members of Torpedo Boat 92K are concerned that government overreach has become a real threat with unintended consequences of deepening the crisis or delaying and hampering a recovery. A guiding principle of Torpedo Boat 92K is that market mechanisms, operating within a logical and well-thought-out regulatory framework, offer the most efficient solutions to correct market imbalances. Regulations and laws that attempt to eliminate or solve every real or perceived cause of the current crisis carry a real threat of strangling financial markets, resulting in a misallocation of scarce economic resources. Legislation that is retaliatory in nature to attack isolated or rare instances of private sector overreach is especially pernicious to smoothly operating markets. This conviction of the Group’s members is not based on ivory tower or ideological theories, but it results from their years of experience in meeting the investment needs of clients.

What’s in a Name?
Like a large, heavily loaded containership, regulatory changes have already set sail. Before this cumbersome ship reaches full speed on the stormy Financial Market Sea on its way to the port of Unintended Consequences, time is of essence to fire a few shots across its bow to slow it down. The size of Federal commitments to address the Financial Crisis amounts to more than $92,000 per individual tax return filed in the United States. ($12.8 trillion as calculated by Bloomberg News divided by 138.4 million personal tax returns in 2006, the last year of data available from the IRS.)

Bob Decker, CFA


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: