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Articles

T.A.R.P. Funds Dribble Into Ojai

By Linda Harmon

Not all Ojai Valley banks are lining up for their share of nearly $1 billion in total national Troubled Asset Relief Program, or T.A.R.P. money. “We haven’t taken any bailout money,” said Martha Dowden of Los Padres Bank, “at least not any I know about.” “Too many strings when you take that money,” joined in Dowden’s colleague, Tom Farmer. “You take that money and when you have your stockholders meeting you’ve got someone from the government there.” It turns out Dowden is right. According to William Phillips, bank president, they didn’t accept any money.  Farmer is also right as the Treasury has indeed

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