A Newfie walked into a bank in Toronto and asked for the loans
officer. He told the loans officer that he was going to Newfoundland on business for
two weeks and needed to borrow $5,000.
However, 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
Newfie handed over the keys to a new Ferrari.
The car was parked on the street in front of the bank. The Newfie
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 Newfie 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 Newfie 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 Newfie replied: 'Where else in Toronto can I park my car for two weeks for only $23.07 and
expect it to be there when I return?'
Ah, Newfies...... See! Salt Fish is good for the brain.