You guys are sounding like the town mob from the Simpsons. First it's the police don't take any action, then it's the police don't take due process. Okay, that was an exageration but I'm prone to such things ...
I'm glad the police are taking a common sense approach and letting people provide reasonable proof to get their bikes back. No, it's not a perfect solution but this is an imperfect situation. Do you really think this would work any better (or at all) if the burden fell on the police to prove each one of Igor's bikes were stolen and track down the owners one at a time? I'm not trying to insight a flame war over this but I do think that what's currently going on is about as good as it could be given the circumstances. Are some people going to take advantage of the situation? Maybe, but I think the vast majority will keep their immorality in check.