Cooperate with what? This has nothing to do with Russia. - Anyone heavily invested in taxi Posted: May 23rd, 2018 - 4:38 am In Reply to: Michael Cohen’s partner decides to cooperate. - nm
medallions in NYC lost almost all their investment.
In 2013/2014 taxi medallions in NY sold for up to $1.3 million! Then Uber and Lyft came along, medallions sell now for as low as $186,000! Several small banks failed solely because they lent on medallions, several bigger banks took huge losses, and most large medallion owners have filed bankruptcy.
It was such a great investment for many years, controlled number of medallions in the largest city in the world with the exclusive right to pick up people when hailed - but then the disruptors came along and ruined the party. The City tried, in vain, to keep Uber and Lyft out, and failed (had to do with unions).
No one in the space is unscathed. Unfortunately, a lot of hard working (legal) immigrants lost it all buying a single medallion. Very sad. Then there were the fleet owners (Cohen and partner) who were crushed.
What can this guy tell to Mueller, anyways? Was Cohen sharing some deep dark Trump secrets with him (not likely - if there even were any) or did they just lose their collective investments together? Another tax evasion ploy? Likely nothing to see here.
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