> the immediate liquidity benefits allowing them to manage risk Sure, everyone loves liquidity and anyone can manage risk in an orderly two-sided market. If t

> the immediate liquidity benefits allowing them to manage risk Sure, everyone loves liquidity and anyone can manage risk in an orderly two-sided market. If there is 1) no legitimate profit-making endeavor backing your security & 2) no current bid, your security is worth exactly $0. You have faith that we needn't worry about (1) because (2) will never happen. I don't.