Boomberg Businessweek

Bloomberg Businessweek magazine became the latest in a long list of publications to stumble on race. Splashed across its cover was a illustration, depicting blacks and Hispanics as money-grubbing homeowners. What wasn’t said but certainly was picked up by some critics is that minorities are somehow responsible for the housing fiasco.

The Feb. 25 issue shows families with exaggerated features inside a two-story above the words “The Great American Housing Rebound.”

The subhead reads: “Flips. No-look bids. 300 percent returns. What could possibly go wrong?”

Racism may not be the intent of the illustration, given it was drawn by an artist of color. Sometimes it’s the headline and the story that change the context of the art. I don’t know what happened here. All I know is the magazine offered a hollow apology.

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

There are many reasons for why housing sales went bust. Race is not one of them.