Of course the phrase has been around a long time. So has the word "chink" as what has come to be an unacceptable reference to someone of Asian-American origins. Let's not pretend that a headline that says, "Obama Criticized for Niggardly Approach to Funding" would not cause riots in the streets.
There can be no question that the headline intentionally contained a racial epithet towards Lin. Apparently Asians are like Caucasian Christians - in a an era of political correctness, one of the last accepted targets of overt racism.
Let’s hope Asians also wear the same “armor” that Caucasian Christians wear.
If you have common sense, a strong work ethic, and the self discipline to take care of your family and manage your own affairs, you don’t care what people say about you.
Apparently not since the person who actually wrote the headline got fired. If a similar headline had been written about Christians (of any ethnicity), the editor would have received an award, a raise and maybe a juicy bonus.