Overheard was the following conversation between two friends:

Tom: I find it offensive that a bank would tell me what to do and what not to do when it makes me a loan. After all, I own the asset I’ll buy with the loan because I have an equity stake in it. The bank is only lending me the money.

Jack: That’s nonsense, Tom! When you buy an asset with a bank loan, it’s the bank that owns the asset, and don’t you forget it. What do you think? Explain your answer.