This year's award goes to SIFMA (the lobbying group for banks like Citigroup and B of A) who created a multinational "cashroots" campaign to portray its clients as "part of the solution" to the financial crisis.
Payday loans trap mostly low-income borrowers in a cycle of debt. That's why San Francisco convened the City's credit unions and developed Payday Plus SF, an alternative small dollar loan with a maximum interest rate of 18% APR.
Credit unions -- not-for-profit, member-owned financial institutions -- have been widely recognized for their prudent business practices and great service, where "profits" are returned to the members, not the CEO.
How do you offend us, Goldman Sachs? Let me count the ways: nstead of investing that money to grow the economy you foster predatory lending to our more vulnerable citizens, to feed your derivative gambling.
We all know that the economy is recovering. The stock market is up by more than 50 percent from its March lows and banks are reporting strong profits. Everything is bright and sunny again, unless you have to work for a living.
These eight factors caused the current financial debacle: greed, quest for yield, failure of rating agencies, rising housing price expectations, 'pulse and pen' lending, excessive leverage, derivatives and a 'holy alliance' turned unholy.