This cover on the lastest issue of Bloomberg Businessweek Magazine has stirred controversy for its portrayal of minorities and their participation in a reviving U.S. housing market.
It features an illustration of minorities grabbing money while sitting in a house to illustrate a story on the return of aggressive mortgage lending practices. The cover says 'The Great American Housing Rebound. Flips. No look bids. 300 percent returns. What could possibly go wrong?'
"The idea is that we can know things are really getting out of hand since even non-white people can get loans these days!" writes Slate's Matthew Yglesias. "They ought to be ashamed."
Columbia Journalism Review said "It's hard to imagine how this one made it through the editorial process."
"Minority borrowers were disproportionately victimized in the bubble," CJR writes. "But BusinessWeek here has them on the cover bathing in housing-ATM cash, implying that they're going to create another bubble. That's not okay."