Red Neck Bank Loan Never underestimate a Texas Redneck Cowboy.
A Redneck cowboy from Sweetwater, Texas, walkedinto a bank in New York City and asked for the loanofficer. He told the loan officer that he was going toParis for an International Redneck Festival and wouldbe gone for two weeks. He needed to borrow $5,000but he was not a depositor in that bank.The bank officer told him that the bank would needsome form of security for the loan, so the Redneckhanded over the keys to a new Ferrari. The car wasparked on the street in front of the bank. He producedthe title and everything checked out. The loan officeragreed to hold the car as collateral for the loan andapologized for having to charge 12% interest.
Later, the bank's president and its officers all enjoyed agood laugh at the Redneck from Texas for using a$250,000 Ferrari as collateral for a $5,000 loan. An employee of the bank then drove the Ferrari into thebank's private underground garage and parked it. Two weeks later, the Redneck 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 on Dun & Bradstreet and found that you are a highly successful investor and multimillionaire with real estate and financial interests all over the world. Your investments include a large number of wind turbines around Sweetwater, Texas. What puzzles us is, why would you bother to borrow $5,000? "The good ol' Texas boy replied, "Where else in New York City can I park my car for two weeks for only $23.07 and expect it to be here when I return?
"His name was BUBBA.....