Word: traps
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Dates: during 1990-1999
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...election, and the only way to get his major opponent, Lebed, out of the way was to join forces with him and put him into one of the highest positions in the country. Because of this smooth move, Yeltsin won the presidential election, while Lebed walked right into a trap. He was too blind and inexperienced politically to see that dropping out of the race for President and going to work for Yeltsin was putting his fate in the hands of his rival. Yeltsin got what he wanted: a second term as President of Russia. And once...
...advocates of signing had strong policy arguments too: the welfare system really did trap people in a cycle of idleness and dependence, just as Clinton had said; something had to be done to lure or push them into productive work; the bill at hand was the best and possibly last chance the President would get to reform it. Yes, it contained very objectionable features: a sharp cut in food stamps and a ban on many social services to legal immigrants. But the President could in conscience sign the bill while decrying those features and pledging to work to revise them...
Making high-cost loans to lower-income borrowers doesn't sound like God's work, and the industry continues to hear criticism that it takes advantage of unsophisticated or desperate customers. "There is a whole segment of lenders who target low-income families and try to trap them in a vicious cycle of debt," complains Congressman Joseph Kennedy, a member of the House Banking Committee, who has pushed successfully for legislation to limit mortgage interest and fees. "It's a strategy that allows them to rake in hefty profits off the misery of others...
QUOTE OF NOTE: "Why are so many families across America struggling to keep their heads above water?...I think we can summarize everything in two words: tax trap...
Harvard stayed out of that trap by getting ahead and not letting up on Penn...