Just a Cowboy Huh?

elmo-jackson

Picture courtesy of  Son of the South

A cowboy walked into a bank in New
York City and asked for the loan officer.

He told the loan officer that he was going to London 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 cowboy
handed over the keys to a new Ferrari.

The car was parked on the street in front of the
bank. The man 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 cowboy from the sticks
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 cowboy 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 cowboy 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?’

Don ‘t ever underestimate a cowboy!

Thanks to jpsfudimo from GCP forums

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