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They don't buy them in cash, they take out a loan to purchase the medallions. They have the option to declare bankruptcy, default on their loan, or if they're
by bluedevil2k 8y ago
They don't buy them in cash, they take out a loan to purchase the medallions. They have the option to declare bankruptcy, default on their loan, or if they're from another country, move out of the United States. In any case, it wouldn't make sense to bail out all these medallion owners, because essentially the owners are banks.