a simple explanation of the banking crisis
Young Roddy bought a donkey from a farmer for £100.
The farmer agreed to deliver the donkey the next day...
The next day he drove up and said, 'Sorry son, but I have some bad news. The donkey's died.'
Roddy replied, 'Well then just give me my money back.'
The farmer said, 'Can't do that. I've already spent it.'
Roddy said, 'OK, then, just bring me the dead donkey.'
The farmer asked, 'What are you going to do with him?'
Roddy said, 'I'm going to raffle him off.'
The farmer said, 'You can't raffle a dead donkey!'
Roddy said, 'Sure I can. Watch me. I just won't tell anybody he's dead.'
A month later, the farmer met up with Roddy and asked, 'What happened with that dead donkey?'
Roddy 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?'
Roddy said, 'Just the guy who won.
So I gave him his two pounds back.'
Roddy now works for the Royal Bank of Scotland.
The farmer agreed to deliver the donkey the next day...
The next day he drove up and said, 'Sorry son, but I have some bad news. The donkey's died.'
Roddy replied, 'Well then just give me my money back.'
The farmer said, 'Can't do that. I've already spent it.'
Roddy said, 'OK, then, just bring me the dead donkey.'
The farmer asked, 'What are you going to do with him?'
Roddy said, 'I'm going to raffle him off.'
The farmer said, 'You can't raffle a dead donkey!'
Roddy said, 'Sure I can. Watch me. I just won't tell anybody he's dead.'
A month later, the farmer met up with Roddy and asked, 'What happened with that dead donkey?'
Roddy 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?'
Roddy said, 'Just the guy who won.
So I gave him his two pounds back.'
Roddy now works for the Royal Bank of Scotland.