Housing Market Racism

Today in Racism

Here’s the cover for the next issue of Bloomberg’s Businessweek

Racist BW Cover

There are several problems here from the facial expressions to the exaggerated lips, but more importantly — this cover implies that minorities caused the housing market crash during the tail end of the Bush administration.

As you’re probably aware, that couldn’t be further from the truth, and this cover is terribly misleading and racist.

Predatory lending, deregulation, oversights, arrogant stupidity, and simple greed caused the housing crash. Not minorities who were often directly targeted for sub-prime, adjustable rate loans which were then repackaged as Prime Rib and sold to Wall Street bankers who snorted them like freshly imported coke before jerking off to their own superiority. The Masters of the Universe.

  • http://drangedinaz.wordpress.com/ IrishGrrrl

    Just FYI, the mag admitted it was two Latinos and two African-Americans. They also apologized. The artist was from Peru and he said, “I was asked to make an excited family with large quantities of money”. I’m betting the mag didn’t bother to tell him the context in which the image would be used. Context is everything. Maybe someone should remind the Bloomberg editors of that.

    • Christopher Foxx

      Thanks, Grrrl.

  • Victor_the_Crab

    And Rick Santelli gives it his thumbs up.

  • D_C_Wilson

    Holy hell! Where did they get this artist? A time traveler from the 1940s?

  • MadJuana

    Please tell me this is a bad joke and not really the cover of a “legitimate: business publication.

  • Christopher Foxx

    Is that not a picture of two white women, a black woman and a black man? Granted the facial features are exaggerated, but that’s the case on all four of them.

    Or am I to take it the two paler folks aren’t “whites”? In which case, please point out what is it that indicates they’re, um, Hispanic? If it’s the way the features are depicted that makes them Hispanic then theirs a circular reasoning going on there.

    • MrDHalen

      Given the percentage of white males in the country, I’m curious as to why his representation is absent. If the article is about the buying and selling of homes, what racial group in the U.S. engages in this market at a greater percentage?

      • Christopher Foxx

        Agreed. I’m a little surprised a white male isn’t present. Still wondering why the two women are perceived as non-white.

        • http://twitter.com/axomamma Axomamma

          Because you’re willfully blind?

          • Christopher Foxx

            Axomamma, thank you for your pointless addition to the discussion.

        • MrDHalen

          They’re not white because the picture represents one minority family in their home according to Bloomberg.

          • Christopher Foxx

            Thanks, MrD. Seems very odd, with two people clearly darker skinned and two clearly lighter, that Bloomberg would claim it’s “one minority family”.

            Where’d you see that bit of info?

          • MrDHalen

            Matt Yglesias over at Slate.com has been in contact with the magazine. If you search his blog, it’s in a recent post from yesterday.

          • Christopher Foxx

            Matt Yglesias over at Slate.com…


        • ranger11

          I think the one woman at the top corner is Latina and and the one on the bottom is maybe poor white trash. So this cover is not only racist but classist as well.

          • Christopher Foxx

            Thanks, ranger11. What leads you to guess the woman at the top is supposed to be Latina?

    • JMAshby

      There are no white people in this image.

      • Christopher Foxx

        There is disagreement on that point. Ranger11, for example, sees the woman in the lower left as white. What is it that convinces you he’s wrong?

  • trgahan

    Utah has been consistently in the top 5 for foreclosures since 2007. Where is the white male 20 something who thinks he’s going to be “real estate” kingpin by flipping one bedroom bungalows? Where is the lower middle class white couple assured by the bank that $40,000 a year is plenty salary for 5,000 square feet, three car garage second home in sunny southern Utah?

    Also, all those homes built in AZ (one of the worst hit) between 2000-2006 were specifically built to attract lower and middle class white skilled labor and professional Midwesterners and Californians who would never be able to own such a place where they currently lived.

  • MrDHalen

    Seeing that make me physically angry!!! How that made it past their editors is beyond me. They should all be fired for gross incompetence.

    This, this is why we can’t have nice things!

  • ArrogantDemon

    and this is why I need acholol to control my pyro rage

    • Victor_the_Crab

      I recommend Captain Morgan Black Spiced Rum, with an alcohol content of 47.3% that goes down really smooth and easy.