Driven to Despair


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How Reckless Loans Devastated a Generation of Taxi Drivers

The phone call that ruined Mohammed Hoque’s life came in April 2014 as he began another long day driving a New York City taxi, a job he had held since emigrating from Bangladesh nine years earlier.

The call came from a prominent businessman who was selling a medallion, the coveted city permit that allows a driver to own a yellow cab instead of working for someone else. If Mr. Hoque gave him $50,000 that day, he promised to arrange a loan for the purchase.

PUBLISHER: THE New York times
DATE: 2019
ISSUE 168 | VOL 58,332

 

 

The New York Times 2019