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Good riddance. Taxi medallions are a market in rent-seeking, investing in it should mean you lose your shirt.
by ThrustVectoring 9y ago
Good riddance. Taxi medallions are a market in rent-seeking, investing in it should mean you lose your shirt.
- Neliquat 9y agoSo a cab driver who wants to drive (legally!) for a living deserves to be broke because of the system they are forced into? That is pretty heartless. These are honest people who many times took a loan to secure their familys future, and you think they should lose their shirt? Do some reflection dude.
- pravda 9y agoI do feel a little bit of schadenfreude at the predicament of NYCs biggest medallion speculator: http://pix11.com/2017/06/07/nyc-taxi-king-accused-of-failing-to-pay-5-million-in-taxes-intended-for-mta-improvements/ http://pix11.com/2017/06/07/nyc-taxi-king-accused-of-failing... Now some medallion owners are trying to get gov't money to bail them out: https://www.scribd.com/document/346690906/Letter-to-Governor-Cuomo-on-Taxis#from_embed https://www.scribd.com/document/346690906/Letter-to-Governor...