Burning for insurance money was primarily driven by property owners who found that almost all of the property in the South Bronx had been redlined by the banks and insurance companies. Unable to sell their property at a good price and facing default on back property taxes and mortgages, some landlords began to burn their buildings for their insurance value. A type of sophisticated white collar criminal known as a "fixer" sprung up during this period, specializing in a form of insurance fraud that began with buying out the property of redlined landlords at or below cost, then selling and reselling the buildings multiple times on paper between several different fictitious shell companies under the fixer's control, artificially driving up the value incrementally each time.[30]Fraudulent "no questions asked" fire insurance policies, including from the New York FAIR Plan, would then be taken out on the overvalued buildings and the property stripped and burnt for the payoff,[4][6][1][7] from insurance companies, with one notable company being Lloyd's of London.[41] This scheme became so common that local gangs (known as "strippers"[12]) were hired by fixers for their expertise at the process of stripping buildings of wiring, plumbing, metal fixtures, and anything else of value and then effectively burning it down with gasoline. Fixers were thus able to turn a profit by buying properties from struggling landlords, artificially driving up the value, insuring them and then burning them.[30]https://en.wikipedia.org/wiki/1970s_South_Bronx_building_fires
>>539594057Funny how kikes openly threaten to engage in de facto terrorism on American soil yet nobody bats an eye.Curious.
Oy vey
>>539594057The landlords:
>>539594057They didn't have to burn anything down themselves. Just leaving niggers unattended is enough.
