Reverse racism is a term we tend to hear when topics such as quotas or Affirmative Action Programs are discussed. Perhaps more recently brought up because of the current Supreme Court nominee Sonia Sotomayor. Use of this phrase is an attempt to explain a form of racism on a "majority" ethnicity.
Regardless of your stance on quotas or Affirmative Action, it doesn't exactly strike me as the kind of dream Dr. King envisioned when he saw a world looking at the "content of their character" rather than the "color of their skin." But perhaps I digress for now.
So is there such a thing as reverse racism? "Reverse" is defined as the "opposite or contrary in position or direction" of something. Therefore it would in fact mean that it was NOT racist and would mean the opposite.
In conclusion it seems the phrase is a poor way to try and explain a form of racism that exists but not one that is openly excepted in our society. But one that is in fact pure racism nevertheless. While it may be easier to call it "reverse racism" it is "racism" plain and simple.
I find it ironc that racism sees no color.