The Italian and the Bank
An Italian walks into a bank in New York City and asks for the loan
officer. He tells the loan officer that he is going to Italy on business
for two weeks and needs to borrow $5,000.
The bank officer tells him that the bank will need some form of
security for the loan, so the Italian hands over the keys to a new
The car is parked on the street in front of the bank. The Italian produces
the title and everything checks out.The loan officer agrees to accept the
car as collateral for the loan. The bank's president and its officers all
enjoy a good laugh at the Italian for using a $250,000 Ferrari as
collateral against a $5,000 loan.
An employee of the bank then drives the Ferrari into the bank's
underground garage and parks it there.
Two weeks later, the Italian returns, repays the $5,000 and the
interest, which comes to $15.41. The loan officer says, "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 replies: "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 return?"