Medallion price included an implied guarantee that time would not move on.
It did.
Created by the city, a legal cartel that was not in the public's best interest.
https://finance.yahoo.com/news/nyc-cabbies-facing-financial-ruin-185841317.html
I recall the medallion prices touching 1 Million dollars each. Then came Uber and others. The city failed this round. Maybe they should pick up the tab for the mess they created.

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