A Redneck from 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 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 Redneck handed over the keys to a new
Ferrari. The car was
parked on the street in front of the bank. The Redneck
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 Dunn &
Bradstreet and found that you are a Distinguished
Alumni from The University
of Texas , 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 and oil wells
through out the state. What puzzles us is, why would
you bother to borrow
$5,000?
The good 'ole 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
there when I return?
Hook 'Em Horns.
