൯ Don't Mess With Old People - Part IV

Bank & Apache Chief - 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 jewellery 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, "I'm 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 the money?"
"Put in teepee."
"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 I get for collateral?"
This is what we all need to do with all banks who want to keep our money..???
Thanks Robert Yang..


James Oh said...


Thanks for sharing such a wise thought that may be very relevant in the near future when the government is no longer guarantee the depositors thereafter Dec 31, 2010.

As such, we should ask the banks what collateral they are going to give to depositors.

CheaHS@n said...

Hi James, the old Apache Chief catch up very fast. At this current financial turmoil lots of oversea banks go bust. Alright learn something new about Dec 31 2010, thanks.

CheaHS@n said...

James after Dec 31 2010 will our local banks revered back to the usual RM60,000.00 guarantee?

James Oh said...

I was made to understand that this is the scheme currently in place to Dec 31, 2010. the Central Bank will make the announcement on the new arrangement when it approaches to the deadline of Dec 31, 2010.

Trust I have answered your question.

reanaclaire said...

hi Cheah, u have 4 blogs... and managing them pretty well too... thanks for coming by.. i m hopping to your other few blogs now..

CheaHS@n said...

Hi Reana thanks for 'covering' my other blogs. Quite like visiting your blog as you are one lady who is "straight intestine straight stomach" - [chek cheong chek told - canto] straight to the point as what comes out your mind!

tuti said...

hehe, chief apache learns fast.
great blog you have.
enjoy your weekend.

CheaHS@n said...

Hi tuti thanks for dropping by have a great day

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