A Vanguard rep explained the dealer didn’t deliver my purchased bond to Vanguard. Further, as the money was withdrawn from my account I won’t earn interest on the funds between date of withdrawal and the date it's re-deposited.

My first foray into buying corporate bonds off the secondary market. Does this happen often? Does it happen any more often at Vanguard than Schwab or Fidelity? Buying a bond off the secondary market doesn't mean I really bought it? Is the true for CDs, Treasuries, etc. as well? Worse yet, not only do I not get the product and yield I thought I bought, someone else gets the float off my funds???