$46B in NPNs
Think I have a $46B deal? Of course not. But, I can tell you about a real one that really did close.
$46B in CDOs (collateralized debt obligations, i.e., packages of mortgages) sold by an unspecified group of banks believed to include Societe Generale, Deutsche Bank and Goldman Sachs among others to an entity called Maiden Lane III. Maiden Lane III paid $20B for the package, or $0.43 on the dollar.
Those in the know might recognize Maiden Lane as the location of the Fed's NY branch. The $20B consisted of $5B contributed by AIG and $15B contributed by the Fed. Given the Fed just bailed out AIG, I'd say the entire $20B came from you and I.
To top it off, AIG paid out $26B in payoffs on the CDSs (credit default swaps) the banks held on the CDOs. I'd say that was out money too. In any case, Maiden Lane III now holds these $46B worth of noted on their books.
All reported in a Business Week article. The article also mentioned Merrill Lynch sold similar securities at $0.22 on the dollar last summer.
So, deals with a "B" in them are real. And they do get closed. But, I'm guessing nobody posting notes on any internet forums was involved.