On their new cover about the so-called "housing rebound," Bloomberg Businessweek published caricatures of minorities, who supposedly re-financed their mortgages as a way to get access to cash. The cover has been condemned as "racist" by numerous critics.
According to the Columbia Journalism Review: “The narrative of the crash on the right has been the blame-minority-borrowers line, sometimes via dog whistle, often via bullhorn. Minority borrowers were disproportionately victimized in the bubble. But Businessweek here has them on the cover bathing in housing-ATM cash, implying that they’re going to create another bubble.”
Slate.com condemned the "racist cover" as conveying the message: “We can know things are really getting out of hand since even nonwhite people can get loans these days!”
HuffingtonPost.com called the cover “racist chic” with “vile depictions” of blacks and Hispanics.
In response to the uproar, Bloomberg Businessweek editor Josh Tyrangiel has apologized in a statement: ”Our cover illustration last week got strong reactions, which we regret. Our intention was not to incite or offend. If we had to do it over again we’d do it differently.”