Micah S. Green
Position: Chief operating officer of the Washington-based Bond Market Association.
Career highlights: Green most recently was executive vice president of the Washington office of the Bond Market Association. Before that he served as tax legislative counsel for MCI Communications Corp.
Education: Earned both a law degree and a bachelor of business administration degree from George Washington University.
The bond market has largely been passed over in the frenzy to buy stocks. What is the Bond Market Association doing to inform the average investor about the role of bonds? "While it's certainly important to understand the stock market .. the bond market is crucially important to everyone's lives, though many people don't know it. Whether or not they have invested in bonds, the public should care about the policies affecting the bond market, because they are intricately tied to interest rates, credit card, home and educational loans. The bond market helps to create capital. So whether you're a government, or a parent or student borrowing money, maintaining efficient liquid bond markets helps ensure that the cost of accessing that capital is as low as it possibly can be."
How has globalization, consolidation and the pace of technological change affected the issues your association faces? "I think the term `globalization' goes right to the heart of the issues with today's bond markets. While our focus is primarily on the U.S. bond markets, our membership is clearly global. Many traditional investments have been very difficult to get into for the general public. Now these same investments are much more accessible, and investors have an increased ability to move capital from one type of investment to another. So in representing bond markets, we need to be doubly certain that policymakers understand how policy can affect not only the traditional view of how the market operates, but also today's view."