THE GREEK LOAN
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 of 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 apologized 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, "VRE 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
