A Redneck from Alabama 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 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 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
Alabama, 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 Alabama 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?"
