An African walks into a bank in New York Cityand asks for the loan officer.He tells the loan officer that he is going toItaly on business for two weeks and needs toborrow $5,000.The bank officer tells him that the bank willneed some form of security for the loan, sothe African hands over the keys to a newFerrari.The car is parked on the street in front of thebank.The African produces the title and everythingchecks out. The loan officer agrees to accept the car as collateral for the loan.The bank’s president and its officers all enjoya good laugh at the African for using a $250,000 Ferrari as collateral against a $5,000loan.An employee of the bank then drives theFerrari into the bank’s underground garageand parks it there.Two weeks later, the African returns, repaysthe $5,000 and the interest, which comes to $15.41.The loan officer says, “Sir, we are very happyto have had your business, and thistransaction has worked out very nicely, butwe are a little puzzled.While you were away, we checked you outand found that you are a multimillionaire.What puzzles us is, why would you bother toborrow $5,000 ?”The Smart African replies : “Where else in NewYork City can I park my Ferrari for two weeksfor only $15.41 and expect it to be therewhen I return ??
Posted on: Tue, 09 Jul 2013 09:08:01 +0000
Trending Topics
Recently Viewed Topics
© 2015