A story about immigrants & medallions in San Francisco: https://www.kqed.org/news/11694401/...i-medallions-now-drivers-are-paying-the-price "Then in 2010, amid transit budget shortfalls, then-Mayor Gavin Newsom took a page out of the New York City playbook. He encouraged the San Francisco Municipal Transportation Authority (Muni) to “monetize” the medallions. The SFMTA started selling medallions for $250,000 a pop. The city needed a lender to provide low-interest loans to cab drivers, many of whom were immigrants with limited credit history. So, it turned to the San Francisco Federal Credit Union, a local institution that usually lends its money in the community. Since 2010, the SFMTA has sold around 700 medallions to drivers. The credit union, which financed almost all of these medallions, estimates that the city brought in $64 million from selling them. That money helped alleviate budget deficits that had accumulated after the 2008 financial crisis. The medallions were a boon for the city, but they quickly became toxic for the credit union and the drivers who bought them." xxx ~~ Californians... Meet your new governor!!