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The market for these securities is enormous.
Only the unlicensed sale of securities is more prevalent.
Now, the total value of these securities is virtually nil.
IF YOU believe its promoters, Ukraine's market for corporate securities is growing up fast.
In particular, the Japanese market in inflation-protected securities is considered too thin to rely on.
"It's not that the buyers don't know what the value of these securities is.
In the "Highly Likely" scenario, wrote Mr. Markopolos, "Madoff Securities is the world's largest Ponzi Scheme".
The value of these securities is based on the future cash flow they provide to investors.
"Tax-loss selling in illiquid securities is going to have a pretty big impact," he said.
The much-criticised CDO, which pools and tranches income from various securities, is really just a capital structure in miniature.
The Fed's current commitment to buy $400 billion in long-term Treasury securities is scheduled to end this month.
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CEO of Professional Science Editing for Scientists @ prosciediting.com