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Saturday, 06 March 2010 |
An Italian walked into a bank in New York City
and asked for the loan
officer. He told the loan officer that he was
going to Italy on business
for two weeks and needed to borrow $5,000 and
that he was not a
depositor of the bank.
The bank officer told him that the bank would
need some form of security
for the loan, so the Italian handed over the
keys to a new Ferrari. The
car was parked on the street in front of the
bank. The Italian produced
the title and everything checked out. The loan
officer agreed to hold
the car as collateral for the loan and
apologized for having to charge
12% interest.
Later, the bank's president and its officers all
enjoyed a good laugh at
the Italian for using a $250,000 Ferrari as
collateral for a $5,000
loan. An employee of the bank then drove the
Ferrari into the bank's
underground garage and parked it.
Two weeks later, the Italian returned, repaid
the $5,000 and the
interest of $23.07. The loan officer said, "Sir,
we are very happy to
have had your business, and this transaction has
worked out very nicely,
but we are a little puzzled. While you were
away, we checked you out and
found that you are a multi-millionaire. What
puzzles us is, why would
you bother to borrow $5,000?"
The Italian replied: "Minga, where else in New
York City can I park my
car for two weeks for only $23.07 and expect it
to be there when I
return?" ........ Ah, the Italians... Bada Bing
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