Bloomberg Businessweek’s racist cover: Caution, greedy nonwhites getting loans

Bloomberg Businessweek has been under fire since the release of its latest weekly cover February 25. Glancing at the cover, it is pretty obvious why.

Matthew Yglesias of Moneybox blog reported a statement from the magazine’s editor, Josh Tyrangiel, in his critique of the otherwise respected magazine.

From Yglesias’ article, “Businessweek Warns That Minorities May Be Buying Houses Again:”

The idea is that we can know things are really getting out of hand since even nonwhite people can get loans these days! They ought to be ashamed.

Update, 1:48 p.m.: Bloomberg Businessweek “apologizes” with a pretty categorical non-apology:

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

Note that Tyrangiel doesn’t say they regret publishing the actual content of the cover, but the “strong reactions” that it incited. How hard is it to take responsibility for the cover, say sorry, and leave it at that?

bloomberg businessweek racist cover photo

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