The Killing Fields Of East New York The First Subprime Mortgage Scandal A Whitecollar Crime Spree And The Collapse Of An American Neighborhood Stacy Horn by Stacy Horn 9781638931225, 9781638931232, 1638931224, 1638931232 instant download after payment.

In this groundbreaking work of investigative journalism & true crime, Stacy Horn sheds light on how the subprime mortgage scandal of the 1970s & a long history of white-collar crime slowly devastated East New York, a Brooklyn neighborhood that would come to be known as the Killing Fields.

On a warm summer evening in 1991, 17-year-old Julia Parker was murdered in the Brooklyn neighborhood of East New York. An area known for an exorbitant level of violence & crime, East New York had come to be known as the Killing Fields. In the six months after Julia Parker's death, 62 more people were murdered in the same area. In the early 1990s, murder rates in the neighborhood climbed to the highest in NYPD history. East New York was dying.

But how did this once thriving, diverse, family neighborhood fall into such ruin? The answer can be found two decades earlier. In response to redlining & discriminatory housing practices, the Johnson administration passed the Housing & Urban Development Act in 1968. The Federal Housing Authority aimed to use this piece of legislation to help low-income families of color finally achieve homeownership. But they could never have predicted how banks, lenders, realtors, & corrupt FHA officials themselves would use the newly passed law to make victims of the very people they were trying to help, & the devastation they would leave in their wake.

A compulsively readable hybrid of true crime & investigative journalism, The Killing Fields of East New York reveals how white-collar crime reduced a prospering neighborhood to abandoned buildings & empty lots. Following the dual threads of the hunt for the network of criminals behind the first subprime mortgage scandal & the ensuing downfall of East New York, Stacy Horn weaves a compelling narrative of government failure, a desperate community, & ultimately the largest series of mortgage fraud prosecutions in American history.