The one billion dollar turnip

They're trying to come up with a framework under which a zombie FNBC can turn a billion hypothetical dollars worth of tax credits into an actual means of paying back creditors. The catch, though, is the dead bank still has to be successfully zombiefied.

Additionally, federal estimates suggest that First NBC's operating losses for 2017 are expected to exceed $700 million, a staggering figure that can ultimately be carried forward for accounting purposes to offset future tax liabilities.

First, the company would have to emerge from bankruptcy and likely move to acquire profitable businesses in order to use the tax benefits.

When it filed for Chapter 11 bankruptcy protection in May, the company's petition listed fewer than 50 creditors owed an estimated $65 million total. At the time, the company claimed assets worth just $6 million.

Under the terms of the settlement, First NBC Bank Holding Co. can pursue the nearly $1 billion in combined tax assets without facing a legal challenge by the FDIC.

Maybe if they bought, like, a bitcoin or something that would put it right.