Michael Bright, Chief Executive of the Structured Finance Association, published a response on the Financial Times website countering Sheila Bair’s stance on derivatives. He asserts that credit linked notes (CLNs) bolster bank balance sheets and enhance credit accessibility by eliminating counterparty risk, contrasting them with previous derivatives. Bright argues that diversifying risk management strategies beyond equity capital via CLNs improves credit availability and affordability for ordinary Americans, including mortgages and auto loans.