In the GM ( GM) bankruptcy, shares of Motors Liquidation, a post-bankruptcy shell company, continued to trade. In some cases, investors complained they were duped by misleading online disclosures into believing those shares had actual value.

Here we would like to comment briefly on the beanie baby phenomenon in the late 1990s, as an example of a case where largely worthless properties were once bought and sold for frequently excessive prices.

Today, thousands of beanie babies are listed for sale on eBay ( EBAY). Most are listed at 99 cents, plus postage and handling -- far exceeding the list price. Additionally, a few "rare Ty Princess Diana Beanie Baby Purple Bear 1st Edition 100% Mint" from 1997 are currently listed at $100,000 or more.

They are worth whatever you choose to pay for them.

-- Written by Ted Reed in Charlotte, N.C.

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