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Old 05-19-2019, 09:32 AM   #2405
Undertoad
Radical Centrist
 
Join Date: Jan 2001
Location: Cottage of Prussia
Posts: 31,423


NY Times story today, on how taxi medallion lenders screwed the drivers so royally, they have been committing suicide, because they are on the hook for million-dollar loans.

This was a market kept artificially expensive via the government ensuring medallions would be limited, a practice that screwed everybody in the short and long run... and when demand fell, the whole bubble collapsed, similar to the housing bubble.
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