The No No Nanette thing has been pretty thoroughly debunked over time...Wikipedia sets some of the record straight, but there are other sources.
https://en.wikipedia.org/wiki/Harry_Frazee
It's particulary interesting to read about Ban Johnson's dealings with Yankee ownership...he basically promised to create a dynasty in New York and set about political machinations behind the scenes to make it happen. Frazee was given essentially no options for trading other than NY and Chicago...and Chicago wasn't willing to spend (see also Comiskey, Charles and the 1919 World Series)... There's a reason that basically every trade the Red Sox made across a 5 year period was with NY. It was Boston - not Babe Ruth - who created the Yankee dynasty. The Yankee dynasty of the early-mid 1920s was essentially a continuation of the Red Sox dynasty of the teens.
What Frazee did was far from unprecedented. Connie Mack had done much the same thing - trade away all his good players - a few years earlier, and would repeat that in the 1930s.
I'm also curious, and have never seen good sources for this...what was the contemporary reaction to the Ruth sale? What did the Boston and New York papers say? What did the Sporting News say? What did the annual baseball guides say? I have a sneaking suspicion that the deal, in its own time, was not seen as one-sided as it now obviously appears to be.
For my mind, the worst trade in baseball history, and it's not really close, is the one referenced in the very first post. Rusie for Mathewson. Rusie was 100% done. He had not pitched a major league in TWO YEARS at the time of the trade, and subsequently threw a grand total of 22 innings for Cincinnati, going 0-1 with a 8.59 ERA. That's worth far far less than the value of what Frazee received from the Yankees. Mathewson went on to win 373 games for the Giants, and become one of the 5-10 greatest pitchers in baseball history.