Analysts in recent weeks have breathlessly reported that the housing market is on the rise.
You know what that means, right?
For some, it means that with a rebound in the housing industry will mean a rebound in the mortgage business — and predatory lending (i.e. mortgages being aggressively pushed on low-income, low-credit customers).
At Bloomberg Businessweek, this is what it would look like:
“Flips. No-look bids. 300 percent returns. What could possibly go wrong?” the magazine asks.
Unsurprisingly, illustrator Andres Guzman’s cover did not go over well and Bloomberg has since issued an apology.
“Our cover illustration last week got strong reactions, which we regret,” Bloomberg editor Josh Tyrangiel 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.”
Thoughts? Do you think Bloomberg overstepped a few boundaries here?
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