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Bloomberg Businessweek Under Fire For Depiction Of Minorities

Bloomberg Businessweek magazine has just taken things a little too far with their caricature depictions of minorities on the cover of their latest issue.

In addition to the insulting illustration of minorities on the cover, even more shady is the fact that they used only blacks and Latinos as the face of a story on sub-prime borrowing and predatory lending, which clearly implies that minorities were primarily responsible for taking out loans that they could not afford to pay off……which eventually began the 2007 housing crisis that sparked the recent U.S. recession.

via NBC News

Bloomberg Businessweek has sparked a torrent of criticism after its cover depicted exaggerated cartoon versions of Latinos and blacks greedily grabbing for money for a story about a housing rebound across the country.

“Oh wow, oh wow, that is very offensive,” said Aracely Panemeno, the director of Latino affairs for the Center for Responsible Lending, as she first opened up a photo of the cover on her computer.

“It is highly offensive and inaccurate with an intent to promote and perpetuate the myth that communities of color were undeserving of the credit and housing they received and are to blame for the housing crisis, when in reality the opposite is true. They were targeted with predatory loans.”

Representatvies for the magazine later apologized for the over, but the damage is obviously already done.

Bloomberg Businessweek tells NBC Latino it regrets the cover, dated February 25.

“Our cover illustration last week got strong reactions, which we regret,” said editor, Josh Tyrangiel in a statement. “Our intention was not to incite or offend. If we had to do it over again we’d do it differently.”

SMH. You would think publications like this one would know better……but of course, they don’t.



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