Subject: Fwd: Banking in Toronto


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 Beef is good for the  brain.

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