A Loan for a Frog
A frog went into a bank, hopped up to the window and told the teller
"I want to apply for a loan". The teller said "See Mr. Paddy Whack at
the desk over there".
So the frog went over to the desk and said "Mr. Paddy Whack, I'm
here to apply for a $50,000 loan". Paddy Whack handed the frog some
papers to fill out. A few minutes later, the frog handed the papers
back to Mr. Paddy Whack, he looked them over and said "Everything seems
to be in order here; however, I need to know what sort of collateral
you can put up". "Of course" said the frog, who reached inside his
froggy vest and pulled out a small ivory elephant.
This confused Mr. Paddy Whack but he didn't want to appear ignorant,
so he said "I'll have to clear this with the president of the bank.
Excuse me." and headed for the president's office.
"I have this frog at my desk applying for a loan", said Paddy Whack
with a sneer, "and he presented this to me as collateral". He showed
the elephant to the bank president, who replied "Oh, that's just fine."
"Huh? What do you mean? Why's this good collateral?"
The bank president replied:
"It's a knicknack, Paddywhack, give the frog a loan!"