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COWBOY LOAN
A cowboy from Two Dot, Montana walked into a bank
in New York City and asked for the loan officer. He told the loan officer
that he was going to Paris for an international rodeo for two weeks and
needed to borrow $5,000 -- and that he was not a depositor at 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 cowboy 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 Montana 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 private 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
on Dunn & Bradstreet and found that you are a highly sophisticated investor
and multimillionaire with real estate and financial interests all over the
world. Your investments include a large number of wind turbines around
Livingston, Montana. What puzzles us is -- why would you bother to borrow
$5,000?"
The good 'ole Montana cowboy just laughed and replied, "Where else in
New York City could I park my car for two weeks for only $23.07 -- and expect it
to be there when I return?"
Don't mess with Montana cowboys!
