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The Italian Loan!
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Author:  Altair [ Wed May 07, 2008 6:45 am ]
Post subject:  The Italian Loan!
> An Italian walked into a bank in New York City and asked for the loan
>officer. He told the loan officer that he was going to Italy on business
>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 Italian handed over the keys to a new
>Ferrari. The car was parked on the street in front of the bank. The Italian
>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 Italian 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 underground
>garage and parked it.
>
> Two weeks later, the Italian 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 and found
>that you are a multimillionaire. What puzzles us is, why would you bother
>to borrow $5,000?"
>
> The Italian 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?"
Author:  laieboy [ Mon May 26, 2008 10:40 am ]
Post subject: 
:thumbsup:
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