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A comment on Taxi Medallion Prices Are Plummeting, Endangering Loans. Parent comment

Re:Taxi Medallion Prices Are Plummeting, Endangering Loans by jonknee on Monday January 30, 2017 @08:10PM (#13526619)
Well the city wasn't the one that sold them for so much money, it was the aftermarket that drove them up (because essentially no new ones are being issued).

A refund wouldn't do much and in general if you buy an asset that decreases in value you have only yourself to blame. Medallion owners are no more special than anyone else.

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Re:Taxi Medallion Prices Are Plummeting, Endangering Loans by ams6110 on Monday January 30, 2017 @08:52PM (#13526819)
I bet if you followed the money you'd find some very wealthy city councilmen or bureaucrats who were in charge of determining how many medallions to issue.
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Re:Taxi Medallion Prices Are Plummeting, Endangering Loans by lovehashbrowns on Tuesday January 31, 2017 @12:03AM (#13527830)
And I bet if a reimbursement program were put into place, most of it would mysteriously not go to the cabbies themselves.
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Re:Taxi Medallion Prices Are Plummeting, Endangering Loans by smileysteve on Monday January 30, 2017 @11:25PM (#13527596)
Some cities auction them...
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