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- Mar 19, 2005
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A Chinese man walks into a bank in New York City and
asks for the loan officer. He tells the loan officer
that he is going to China 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 Chinese man hands
over the keys to a new Ferrari parked on the street in
front of the bank. He 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 Chinese 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 Chinese 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
multi-millionaire. What puzzles us is, why would you
bother to borrow $5,000?" The Chinese 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?"
Ah you see, the mind of the Chinese...
asks for the loan officer. He tells the loan officer
that he is going to China 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 Chinese man hands
over the keys to a new Ferrari parked on the street in
front of the bank. He 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 Chinese 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 Chinese 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
multi-millionaire. What puzzles us is, why would you
bother to borrow $5,000?" The Chinese 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?"
Ah you see, the mind of the Chinese...
