Bloomberg Businessweek's Racist Cover Also Gets the Housing Crisis Backwards

Thanks to Matt Yglesias, we've been staring at this recent Bloomberg Businessweek cover for most of the morning, and we still can't decide what's most offensive about it: the caricature of the busty, sassy Latina, the barefooted black man waving cash out his window, that woman in the upstairs left-hand corner who looks about as dim-witted as her dog?

The whole scene is rightly enraging the Internet today (the cover was first floated on Feb. 21, but sometimes Twitter's metabolism is strangely slow). Businessweek is selling this scene above the headline "The Great American Housing Rebound," by which the magazine seems to be suggesting that free-spending minorities who should never have been given mortgages during the last housing bubble are now at it again, pumping their houses for straight cash.