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The Epic Rise and Hard Fall of New York’s Taxi King

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1431 Rider
 Posted 8 months, 1 week ago

Good riddance.


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    236 Rider Driver
     8 months ago

    If you have not followed the NYTimes investigation into mediallions start here. Crushing to read it.


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    749 Rider Guru
     8 months ago

    Wow. The situation with medallions was even worse than I realized.

    In several articles this year, an investigation by The New York Times found that government officials stood by as industry leaders artificially inflated medallion prices and channeled immigrant drivers into loans they could not afford to purchase the permits. The leaders reaped hundreds of millions of dollars before the bubble burst, wiping out thousands of buyers who are still mired in debt today.