[aikah]

> The article mentions most medallions are backed by credit -- that would mean the drivers would be put in a position of defaulting on their now-worthless medallions.

A medallion buy-back is the only fair solution (for individuals, not for taxi companies). So there should be some kind of compensation so we can all get out of that system, system the local legislator created. But it shouldn't be up to Uber to pay, no matter how I dislike Uber, they didn't create the problem. The whole "free but paid because of scarcity" medallion fiasco is the real cost of corruption, and tax payers always foot the bill sooner or later in these case.