Bloomberg Businessweek Attacked for Cover Many See as Racist

   

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Bloomberg Business week is under a firestorm of attack for a cartoon on the cover of last week’s issue that many are calling a racist and stereotypical depiction of blacks and Latinos. The cover shows people of color greedily grabbing handfuls of money and implies that the housing rebound has gotten out of hand because blacks and Latinos are getting loans again.  

 

“Oh wow, oh wow, that is very offensive,” Aracely Panemeno, the director of Latino Affairs for the Center for Responsible Lending, toldNBC Latino when she first viewed the cover. “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.”

 

The editor of Bloomberg Business week, Josh Tyrangiel, issued a statement intended to serve as an apology.

 

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

 

Janis Bowdler, the director of economic policy at The National Council of La Raza, told NBC Latinothat a Pew research study found that plummeting house values were the principal cause of loss of wealth in African-American and Hispanic households from 2005 to 2009. During that time, Hispanic household wealth fell by 66 percent and African-American wealth fell by 52 percent.

 

These statistics make the Bloomberg Businessweek cover even more offensive, she said.

“I found the cover shocking and incredibly insulting,” Bowdler added. “Not only does the cover not relate to the article, it’s incredibly ironic given the changing demographics of this country and somehow insinuates that by trying to have a small slice of American dream, they’re money grabbers.”

 

“It’s hard to imagine how this one made it through the editorial process,” Ryan Chittum wrote on theColumbia Journalism Review.


Andres Guzman, a Peru-born, Minneapolis-based artist, who was commissioned by Bloomberg Businessweek for the illustration, explained on his Tumblr page what he was thinking.

 

“I was asked to make an excited family with large quantities of money,” Guzman wrote before the controversy erupted. “I slipped in my lovely cat, Boo, which was my favorite part. Too bad I wasn’t asked to draw large quantities of cats. Drawing dollars was a drag.”

“I simply drew the family like that because those are the kind of families I know,” Guzman said in a followup statement provided to Yahoo! News by Bloomberg Businessweek. “I am Latino and grew up around plenty of mixed families.”

 

The magazine has made a name for pushing the envelope with its provocative magazine covers. In fact, partly because of the covers, Tyrangiel was named Advertising Age’s 2012 Editor of the Year.

About Nick Chiles

Nick Chiles is a Pulitzer Prize-winning journalist and New York Times bestselling author. He has written or co-written 11 books and won over a dozen major journalism awards during a journalism career that brought him to the Dallas Morning News, the Star-Ledger of New Jersey and New York Newsday, in addition to serving as Editor-in-Chief of Odyssey Couleur travel magazine.

 

 

 

 

 

 

 

 

"I'm just trying to make a way out of no way, for my people" -Modejeska Monteith Simpkins

 

AFRICAN AMERICA IS AT WAR

THERE IS A RACE WAR ON AFRICAN AMERICA

THERE IS A RACE WAR ON AFRICAN AMERICANS

THERE IS A RACE WAR ON BLACK PEOPLE IN AMERICA

AMERICA'S RACISTS HAVE INFILTRATED AMERICAN POLICE FORCES TO WAGE A RACE WAR AGAINST BLACK PEOPLE IN AMERICA

THE BLACK RACE IS AT WAR

FIRST WORLD WAR:  THE APPROXIMATELY 6,000 YEAR WORLD WAR ON AFRICA AND THE BLACK RACE

Original Post
Originally Posted by sunnubian:

First, they lied and blamed the housing crash on African Americans and Latinos/Hispanics, now they are lying and saying that its African Americans and Hispanics/Latinos that are benefiting from the housing crash.

No it was the greedy banks giving subprime loans to African-Americans specifically.  And now the same greedy banks are hoarding the properties that they not only set up to fail, BUT they are using the same taxpayers money from the stimulus packages to get them out of financial mess they caused. Fuck Bloomberg.

Originally Posted by sunnubian:

First, they lied and blamed the housing crash on African Americans and Latinos/Hispanics, now they are lying and saying that its African Americans and Hispanics/Latinos that are benefiting from the housing crash.

Sadly many people (and some still do) believe that lie.  The current discussions often omit the massive advertising campaigns undertaken encouraging people to 'take out equity in their home'.  Why?  And why are there so many reports of Banks settling fraud charges involving what the cover attempts to depict?

 

American culture is known for its 'memory hole'.  Six years after this mess began and its coming full circle with the lie/myth that 'you people are too blame'.

 

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