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.