The Banking Crisis simply explained…

Young Paddy bought a donkey from a farmer for £100.
The farmer agreed to deliver the donkey the next day.

However, the next day he drove up and said, ‘Sorry son, but I have some bad news. The donkey’s died.’

Paddy replied, ‘Well then just give me my money back.’
The farmer said, ‘Can’t do that. I’ve already spent it.’
Paddy said, ‘OK, then, just bring me the dead donkey.’
The farmer asked, ‘What are you going to do with him?’
Paddy said, ‘I’m going to raffle him off.’
The farmer said, ‘You can’t raffle a dead donkey!’
Paddy said, ‘Sure I can. Watch me.. I just won’t tell anybody he’s dead.’

A month later, the farmer met up with Paddy and asked, ‘What happened with that dead donkey?’
Paddy said, ‘I raffled him off.
I sold 500 tickets at two pounds a piece and made a profit of £898′
The farmer said, ‘Didn’t anyone complain?’
Paddy said, ‘Just the guy who won. So I gave him his two pounds back.’

Paddy now works for the Royal Bank of Scotland.

3 comments for “The Banking Crisis simply explained…

  1. 1 September, 2011 at 09:54

    You’ve created an exceptional website, very much enjoying reading your different articles but also believe the blog’s structure is fluid! Look forward to your next post. Regards; Enda Roy in Duisburg

  2. 12 May, 2011 at 11:41

    I love this one. The problem is that’s is probably true, and if not Paddy was either at HBOS or one of the Lloyds TSB directors who failed to say the HBOS acquisition should not have gone ahead, refused to sign the responsibility statment and resigned saying publicly why.

  3. 11 May, 2011 at 01:22

    I am almost sure this subject matter was presented on Nightline

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