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

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Samarov
1419 Rider
 Posted 1 month, 2 weeks ago

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Good riddance.

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    lionfool
    234 Rider Driver
     1 month ago

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

    https://www.nytimes.com/2019/05/19/nyregion/nyc-taxis-medallions-suicides.html?auth=login-email&login=email

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    chawes
    745 Rider Guru
     1 month 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.