A Redneck 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 Redneck
Festival and would be gone for two weeks. He needed to borrow
$5,000, but he was not a depositor in that bank.
The bank officer told him that the bank would need some form
of security for the loan, so the Redneck handed over the keys to
a new Ferrari. The car was parked on the street in front of the
bank. He 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 Redneck from Texas 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 Redneck 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 Dun & Bradstreet and found that you are a highly
successful investor and multimillionaire 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 ol' Texas boy replied, "Where else in New York City
can I park my car for two weeks for only $23.07 and expect it
to be here when I return?"
