I saw an article recently about the damage done to the credit card industry after the gov. bailout. The availability of easy attainment did permanent damage to the industry. Tearing up credit cards was a strong sign of public resentment. Ed Starrs started MyEcheck in 2004, 6 years before the bailout. I think he had great vision. Unfortunately, his bank at the time did not. First Regional Bank in Los Angeles was his bank that failed without public notice on Jan.28, 2010. It was not bailed out. If you had a checking/savings acct., you were fine as citizen bank took over and you got new acct.#. If you had complicated business contracts however, you were screwed, blued, and tatooed!! He almost lost his entire business! The reason you see the pps up and down the last 2 years was he had hostile takeover offers that wanted myec for practically nothing! Who wouldn't buy the stock if you worked at one of those companies and heard they were picking up a company for next to nothing that the pps was a penny? They did not count on Ed Starrs holding his ground AND picking the company back up to a profitable position. For anyone who has been knocked down and got back up, this is truly an inspiring story. Does the saying"HOW DO LIKE ME NOW!" feel familiar!
AI
