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A Cheesy Collateral

VIP Member Lisa sent us one of the most entertaining email we’ve ever received. She says: “I read this article in the New York Times about an Italian bank keeping wheels of Parmesan cheese as collateral for bank loans to cheese makers. I was blown away by this but not really surprised because Italians are so resourceful.”

“What a brilliant way to make loans available for cheese makers by allowing their aging cheese to guarantee their loans. I think this would make a great lesson as well as a cultural surprise for your listeners.”

Italians can surely be resourceful, and what an example this is.

So here it is, a Culture Shot about banks, loans, Parmesan cheese, and, most important, about the worldwide famous “arte di arrangiarsi italiana” (the Italian art of going with the flow).

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