This is a true incident that happened in New York (ya, right)
man walked into a bank in New York
City one day and asked for the loan
He told the loan officer that he was going to
on business for two weeks and needed to borrow $5,000. The
bank officer told him that the bank would need some form of security for the
loan. The Italian man handed over the keys to a new Ferrari parked on the street
in front of the bank. He produced the title and everything checked
The loan officer agreed to accept the car as collateral
for the loan.
The bank's president and its officers all enjoyed a good
laugh at the Italian man for using a $250,000 Ferrari as collateral against a
An employee of the bank then drove the Ferrari into the
underground garage and parked it
Two weeks later, the Italian returned, repaid the
$5,000 and the interest, which came to $15.41.
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
The Italian replied: "Where else in New York City can I park my
car for two weeks for only $15.41 and expect it to be there when I