Clever bank story

The Italian Loan

An Italian walked into a bank in New York City and asked for the loan officer. 

He told the loan officer 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: 'Ah, 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?'

Ah, the Italians...