Observations of the Random sort

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dead_elvis
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Joined: 01 May 2010, 15:26

Re: Observations of the Random sort

Post by dead_elvis »

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Eric the .5b
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Re: Observations of the Random sort

Post by Eric the .5b »

It'd only be funnier if she tried to follow through.
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JD
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Re: Observations of the Random sort

Post by JD »

Because this could never have any side effects:
Slated to be introduced this week by City Councilman Ritchie Torres, the plan calls for the council to enact legislation to force private lenders to revalue every taxi medallion at $250,000. In turn, the city would act as a guarantor on all outstanding loans, absorbing only the costs of drivers that default on their payments.
...
The new proposal is coming after local officials in January floated a plan to create a public-private partnership to bail out taxi drivers by buying back the medallions. While the program calls for unspecified discounts on the medallions, officials admitted the plan would cost upwards of $500 million.

Proponents of the new plan, meanwhile, argue that it would sidestep the need for a costly bailout. A $250,000 valuation for every medallion, Dange argues, could make for an attractive return for most lenders, who are now staring at the prospect of a slew of defaults, as well as a demand from the New York Taxi Workers Alliance to cap all medallion debt at $150,000.
https://nypost.com/2020/05/11/nyc-taxi- ... be-250000/

Government is, as usual, a mechanism by which the politically connected (taxi unions, lenders, in this particular case) extract wealth from the non-politically-connected (taxpayers in general). Everyone is kind of to blame here: medallion purchasers, who assumed that medallions were magic investments that could never ever lose value; lenders, who were happy to encourage this belief because it meant people would borrow huge amounts for a medallion; the city, which was also happy to encourage this belief because it inflated the price it was getting for medallions; existing medallion holders, who didn't want to see the value of their purchase diluted.
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Kolohe
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Re: Observations of the Random sort

Post by Kolohe »

https://nypost.com/2020/03/28/hero-mta- ... cated-dad/

Someone completely burned up a New York City subway car at the end of March and the first I heard about it was a rando twitter shitposter just now.
when you wake up as the queen of the n=1 kingdom and mount your steed non sequiturius, do you look out upon all you survey and think “damn, it feels good to be a green idea sleeping furiously?" - dhex

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Hugh Akston
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Re: Observations of the Random sort

Post by Hugh Akston »

Kolohe wrote:
20 May 2020, 23:22
https://nypost.com/2020/03/28/hero-mta- ... cated-dad/

Someone completely burned up a New York City subway car at the end of March and the first I heard about it was a rando twitter shitposter just now.
TBF the NYC subway catching fire isn't exactly news.
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