Hello, @nathantankus. A few people have emailed me about your response to my article for @TheAtlantic, so I thought I’d respond in a thread here. First, thanks for writing. I always appreciate spirited debate. I interviewed dozens of people for the article, including industry analysts, CLO traders, leveraged loan experts, current and former regulators, and other bank and credit professionals (including a representative from Wells Fargo).

Here's a thread about the new Federal Reserve programs that rely on credit ratings. I hope it's helpful to someone out there. I've included citations so it's easy to follow everything in one spot. /2 In Dodd-Frank, Congress removed all of the reliance on credit ratings that it could find in the U.S. Code. It didn’t find all of the references, but it found quite a few. Good work, Congress. See Dodd-Frank 939; papers.ssrn.com/sol3/papers.cf….