Comment Re:the establishment really does not like competit (Score 4, Informative) 366
This doesn't mean there are no regulations - it means that Uber drivers are required to pay for the cost of a background check by the police department, and provide proof of insurance. This cost is tiny in comparison to buying a medallion, and provides the same level of safety as the background checks the taxi companies were running.
Keep in mind however that only a handful of cities use Medallions. Outside of NYC and those other cities, Uber is getting busted for exactly what you propose: they refuse to do things like pay for police background checks and require drivers to hold a commercial driver's license. Uber is managing to break the law even in cities with a limited number of common sense laws.