Honestly shouldn't be anything wrong with that. You can gamble on lottery tickets that only pay out 50%, should be able to gamble on options that pay out 98%+ after fees.

Not sure if you're still joking but one way or another you would still be on the hook for those loans. Even if no one took over all of the assets the government would appoint someone to manage the bankruptcy.

They would then sell the loans independent of the other assets or liabilities, and the profits from selling the loans would partially pay any creditors or repay the government if the government bailed out the depositors.