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12-04-09, 01:01 PM
BANK LOAN
A cowboy from Sweetwater, Texas walked into a bank in New York City
and asked for the loan officer. He told the loan officer that he was
going to Paris for an international cowboy festival 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 cowboy handed over the keys to a new Ferrari
parked in front of the bank.
The cowboy 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 cowboy from the South 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 private underground garage
and parked it.
Two weeks later, the cowboy 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 on Dunn &
Bradstreet and found that you are a Distinguished Alumnus from Texas
A&M, a highly sophisticated investor and Multi-Millionaire with real
estate and financial interests all over the world. Your investments
include a large number of wind turbines around Sweetwater, Texas. What
puzzles us is, why would you bother to borrow $5,000?"
The good 'ole Texas cowboy replied, "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?"
A cowboy from Sweetwater, Texas walked into a bank in New York City
and asked for the loan officer. He told the loan officer that he was
going to Paris for an international cowboy festival 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 cowboy handed over the keys to a new Ferrari
parked in front of the bank.
The cowboy 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 cowboy from the South 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 private underground garage
and parked it.
Two weeks later, the cowboy 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 on Dunn &
Bradstreet and found that you are a Distinguished Alumnus from Texas
A&M, a highly sophisticated investor and Multi-Millionaire with real
estate and financial interests all over the world. Your investments
include a large number of wind turbines around Sweetwater, Texas. What
puzzles us is, why would you bother to borrow $5,000?"
The good 'ole Texas cowboy replied, "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?"