A Filipino walks into a bank in New York City and asks for the
Loan officer. He tells the loan office! R that he is going to the Philippines 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 Filipino hands over the keys of a new Ferrari.
The car is parked on the street in front of the bank. The
Filipino 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 Pinoy 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 Pinoy 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 multimillionaire. What puzzles
Us is, why would you bother to borrow $5,000?'
The Pinoy 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
Makunat but smart LOL