Collateral

Here's one about the old native American who
wanted a loan for $500. The banker pulled out
the loan application, "What are you going to
do with the money?"

"Take jewelery to city and sell it," was the
response.

"What have you got for collateral?"

"Don't know collateral."

"Well that's something of value that would
cover the cost of the loan. Have you got any
vehicles?"

"Yes, 1949 Chevy pickup."

The banker shook his head, "How about
livestock?"

"Yes, I have a horse."

"How old is it?"

"Don't know, has no teeth."

Finally the banker decided to make the $500
loan. Several weeks later the old man was back
in the bank. He pulled out a roll of bills,
"Here to pay." he said. He then handed the
banker the money to pay his loan off.

"What are you going to do with the rest of that
money?"

"Put in tepee."

"Why don't you deposit it in my bank," he asked.

"Don't know deposit."

"You put the money in our bank and we take care
of it for you. When you want to use it you can
withdraw it."

The old Indian leaned across the desk, "What you
got for collateral?"

Advertisements

One thought on “Collateral

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s