A Nebraska corn farmer walks into a NYC bank and tells the loan officer he is going to Norway on business for two weeks and needs to borrow $5,000. The bank officer tells him that they will need security for the loan, so the farmer hands over the keys to his new Ferrari. The car is parked in front of the bank. The corn farmer produces the title and everything checks out. The loan officer agrees to accept the car as collateral for the loan.
An employee of the bank then drives the Ferrari into the bank’s underground garage and parks it there. The bank’s president enjoys a good laugh over this farmer using a $250,000 Ferrari as collateral against a $5,000 loan.
Two weeks later, the farmer returns, repays the $5,000 and 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 you are a multimillionaire. What puzzles us is, why would you bother to borrow $5,000?”
The farmer 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, ya gotta love those Nebraska corn farmers.