NYC Taxi Medallions' steep fare

Even before Uber and Lyft pulled into town, NYC yellow cabs were having a rough ride. Reckless lending practices and inflated taxi medallion prices racked up profits for the city and debt for drivers. Then, the bubble did what bubbles do. Our sponsors this week:Policy Genius - policygenius.comBetterhelp - betterhelp.com/spectacularSign up to receive our brand new newsletter, featuring weekly recommendations from Lauren and the rest of the team at spectacularfailures.org/newsletter.Read the transcript of the episode at spectacularfailures.org.You can follow Spectacular Failures on Twitter at @failureshow and like us at Facebook.com/failureshow. We're @failure_show on Instagram. Follow Lauren Ober on Twitter and Instagram at @oberandout.