This video is brilliant. The situation it covers is despicable - thanks to Reason.tv for bringing this to light.
If the District is successful in implementing this medallion bill and drastically cutting down on the number of cab drivers, they are going to induce a major shortage. Prices will [necessarily] skyrocket, and they'll see a whole host of neighborhood effects. Like what, you may ask? Here's a scenario: drunken kids are going to leave bars at 2:00 AM, and, either unable to find a taxi or unwilling to pay the expensive fare, they will attempt to walk home. Stand back and watch the numbers of pedestrians hit by cars/rape victims/muggings increase. As my colleague Helen pointed out to me - DC seems to really hate women, since they don't want them to have guns, pepper spray, or even a ride home at night.
One of DC's justifications for this new regulation is to prevent corruption - are they seriously trying to talk about preventing corruption? This is nothing but pure, unadulterated sleaze.