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I agree, but that scenario rarely plays out. In reality, taxi medallions were leveraged financial products often owned by banks, hedge funds, PE firms etc. I do
by tmh79 9y ago
I agree, but that scenario rarely plays out. In reality, taxi medallions were leveraged financial products often owned by banks, hedge funds, PE firms etc. I do not feel sorry for the generally wealthy medallion investors, they made a bet and they lost.
- stbtrax 9y agoI don't know what the percentage is but from personal experience there were a lot of South asian immigrants in chicago that drove and saved up to buy medallions.