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Tarquin

The Greek Loan

3 posts in this topic

A Greek man walked into a bank in New York City and asked for the loan

officer. He told the loan officer that he was going to Greece 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 Greek man handed over the keys to his new Ferrari. The

car was parked on the street in front of the bank. The Greek man produced

the title and everything checked out. The loan officer agreed to hold the

car as collateral for the loan And apologised for having to charge 12%

interest.

 

Later, the bank's president and its officers all enjoyed a good laugh at

the Greek man 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 Greek man returned, repaid the $5,000 and the interest

of $23.07 in full. 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 millionaire. What puzzles us is why would you bother to

borrow $5,000 when you are a millionaire?"

 

The Greek man replied, "Malaka, 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?

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