I find this entertaining and sad at the same time ...
I have a couple of really great AMs at the affiliate networks that I work with - bless their hearts that they still take my Skype messages given I'm not putting much/any money in their pockets.
They point me in the direction of offers that are doing volume and conversions and my negative mojo takes over. Haha
Here's an example of a couple of recent offers that I'm promoting (that others are doing well with):

As you can see, I can get decent CTR but no conversions - I'd be thrilled at a negative 80% ROI right now as it would be a starting point to optimize from.
Anyhow, not giving up
Maybe it's the right offer but not the right traffic source?
Are you using a lander or direct linking?
I would first run it at a different traffic source so you have something to compare it to. If you see similar results, check the creatives > offer flow. You can get clicks with a good angle but it needs to represent the offer as well.
The way I think about it is that if any offer is doing big volume network wide there must be a way to make it work.
Just need to play with different angles and traffic sources. It's all about testing and finding the winning flow.
As bbrock says, someone must be making them work.
If these offers are doing well, you should have no problems finding ‘em on spy tools - see what is working for the people that ARE making it work and try to understand WHY it works for them.