Does working for Bain make Patrick unacceptable?

[Funtatlaguy]

I dont know that much about them.
Venture Capitalists, I think?
Otherwise, He seems fine to me but I don’t know what he offers that differs from the rest.

[Dennis Donovan]

1. His very late entry in the race bothers me more.

He missed his chance a year ago.

[Funtatlaguy]

4. I already loved our field.

I looked at them all and fell in love with quite a few.
I do think that after Super Tuesday it will be Warren vs Biden.
I love Joes heart.
I love Elizabeth’s brain.
I will work my tail off for either.

[Demsrule86]

25. I agree. I will work my heart out for whoever the candidate is...

[treestar]

17. My reaction to him and Bloomberg

is yawn. I don't see any entries now being dramatic, just boring. The only one that would be dramatic is Hillary.

[lark]

2. Vulture Capitalists is what they are.

They rape the companies for their own profit, take everything from it for themselves, then let the carcas rot on the ground while they walk away. That's who he worked for and it's disqualifying in my book.

[madaboutharry]

3. For me it was his intervention on keeping his brother-in-law

off the sex offender registry after a rape conviction. And firing the official who stood in the way.

In my opinion, that was an abuse of power.

[in2herbs]

13. Agree. And also include being a vulture (venture) capitalist disqualifies him. We don't need a

rich businessman/woman in the WH. They are out of touch with the reality of the middle class.

[dware]

5. In my humble opinion......

yes.

[Unclephil]

6. no more so

than voting for Nixon, Ford, Reagan, Reagan Bush and Bush and then saying the system is unfair to the middle class. These people started supply side and that has put a hurt on the middle class.

[BeyondGeography]

12. If that's Elizabeth Warren you think you're talking about

Think again:

Her first presidential vote, in 1972, had been cast against a man she said she disliked passionately, Richard Nixon. But reflecting on how little she had paid attention to day-to-day politics at the time, she couldn’t immediately recall who had been running against him. When told it was Democrat George McGovern, she said, Yes, she would have voted for him but didn’t have any specific memory of having done so. (She was living in New Jersey at the time.)

Going to the polls, she said, was nothing new for her. Warren’s mother had been a poll worker and brought her young daughter to the polls each Election Day.

Nixon was re-elected that year, of course, but resigned and was replaced by Gerald Ford. Warren said she had voted for him in 1976, believing that “Ford was a decent man.”

But she was happy with Jimmy Carter, who beat him. “I thought he [also] was a decent man,” she said, transferring her then-standard for what she wanted in a politician from Ford to Carter. “He was a really good man.”

As the ’80s wore on and her research on bankruptcy progressed, Warren started waking up politically. At the time, though, the two parties had yet to separate entirely along ideological lines, as some deeply conservative and racist Democrats still held office, as did some genuinely liberal Republicans.

In 1988, Warren voted for Michael Dukakis but, in 1992, split her ticket, voting for Republican Arlen Specter for Senate and Democrat Bill Clinton for president. Specter is a good example of the one-time flexibility of the party system and the politicians within it: He began and ended his career as a Democrat, but was a Republican for much of the middle of it.

By the fall of 1987, she had moved to Pennsylvania and registered there as a Republican. Warren said she couldn’t quite remember why she did it but that she was a fan of Specter. “Again, I thought he was a decent man,” she said. She couldn’t recall whom he ran against. (His Democratic opponent was Lynn Yeakel.)

That GOP registration, though, has set off speculation over the years that one of the Senate’s most progressive champions may have at one time been a Ronald Reagan backer.

So we asked her: Is it true? Is it possible the champion of the regulatory cops on Wall Street voted for the man who made deregulation a hallmark of his presidency?

No.

In 1980, she said, she was a registered independent living in Missouri City, Texas, and cast her vote to re-elect Carter.

https://theintercept.com/2018/02/19/elizabeth-warren-opens-up-about-her-choices-in-every-presidential-election-since-1972/

And if that (predictably I fear) doesn’t work for you, here’s some info about her first law review article in 1975:

https://www.outsidethebeltway.com/1975-warren-vs-1975-biden-on-busing/

[Unclephil]

15. and we know that from her own word.

That is comforting. She can't remember voting for McGovern?. That was at a time that politics was at the edge. A profound election.

[BeyondGeography]

16. Hence the law review article

But that post wasn't for just you anyway.

[Unclephil]

28. 1972

was my first presidential election. It was also her first. Do you remember your first presidential election? I don't think anyone forgets that.

[BeyondGeography]

32. 1975 was the law review article

Here's an interpretation of some of what she wrote:

"It has been black parents, children, and organizations committed to desegregation who have shouldered the major part of the burden...Clearly, the burden for enforcing the Brown right has been misplaced," Warren wrote.

Warren wrote that the Milliken ruling, coupled with another ruling that upheld the state system of financing public schools by local taxes, "will lead to central-city schools which are inferior in facilities, student-teacher ratios, and other educational advantages because the funding is not commensurate with that available for suburban schools."

Erika K. Wilson, a professor of public policy at the University of North Carolina School of Law, said that Warren's predictions for what would occur in the American education system largely came true and that her view was closely aligned with Justice Thurgood Marshall, who wrote a dissenting opinion in Milliken. America's school systems would become "irreparably segregated," said Wilson.

Warren, noted Wilson, might have been out of step with her contemporaries at the time, and particularly "out of step" with white Americans who were "tired" of the decades-long battle to integrate public schools.

https://www.cnn.com/2019/07/06/politics/elizabeth-warren-busing-desegregation-kfile/index.html

Re. 1972, it tells me she wasn't terribly political. Believe it or not, in some basic ways she still isn't. She wants the system to work better for working people and the poor and if that means fighting with the occasional Democrat as well as Republicans, so be it.

[Unclephil]

33. Granted she was concerned with segregation.

The why would anyone register as a republican when Reagan opened his election campaign in Philadelphia, MS and tells welfare Cadillac jokes. Then Bush used Willie Horton. The republican party has been playing the race card forever. Her "not aware" politically doesn't ring true to me.
The late 60' and 70's were turbulent times. People chose sides. She is very smart. Smart people have great memories. They don't forget their first vote.

The Wealth tax is absolutely political. I am a believer in single payer but to implement it is a heavy lift. I have bought my own insurance for twenty years. How long did it take Canada?

[aikoaiko]

21. Where is MIRT?

[mopinko]

24. how to call mirt-alert

if you see a noob, and think they are a troll, alert on any posts that break/stretch the rules.
when you are called to a jury, realize that your judgements are part of a system that keeps out trolls. if you never vote to remove posts, consider taking a pass on jury duty.

[nycbos]

7. No but this story does

https://www.democraticunderground.com/1287346388

[crazytown]

8. Vulture capitalism.

Democrats took a unremitting negative view of RMoney's stint at Bain.

[50 Shades Of Blue]

9. It does to me. Bain Mitt Romney.

[2naSalit]

10. Yup....nt

[Botany]

11. Yes

Bain Capital's biz model is use borrowed money to buy out a company, then
load that company up with more debt, if there is still a market for what that
company makes then outsource its production, sell off the bones of the company,
lay off the employees, try to take as much of the employees pensions and insurance
away, then let the state or local governments take over the support system for
the laid off employees, and walk away with millions of dollars.

[comradebillyboy]

14. He's late to the game and too far behind to catch up IMHO. Did Patrick ever

have any pull outside of Massachusetts? I view him and Bloomberg as annoying distractions at this stage of the race.

I don't care about the Bain Capital thing.

[evertonfc]

18. A job

makes a guy unacceptable? A black guy grows up poor, goes to Harvard and gets a job with a corporation and he's unacceptable? Does spending your career in DC sucking off the taxpayer teet make you unacceptable?

[Funtatlaguy]

19. I just don't know what to think about working for Bain.

Everybody needs a good job.
I just don’t know enuf about what these types of businesses do and what Patrick did for them.
He comes across as a nice man and I thought I heard he was a pretty good Governor.

[Demsrule86]

23. Romney was a venture capitalist....they take over companies, borrow money to the hilt on the

company, sell all the assets, fire everyone and then put the company into bankruptcy leaving the taxpayers to foot the bill for unpaid loans...Here in Ohio, many lost their jobs with their health care and their lives in the end.

[TidalWave46]

20. It doesn't make him unacceptable to me.

But I don't see him breaking into my top four. I will listen to what he has to say and see how he carries himself.

[padah513]

26. Agreed

I don't mind his or anyone else' entering the race but I also don't think he or anyone else entering the fray this late in the game will gain much traction. I mean Steyer is a bazillionaire and can run ads all day every day in any market and look where he's polling.

[Demsrule86]

22. I hate venture capitalist ...however,the deal breaker for me is the brother in law and sex registry

stuff.

[mopinko]

27. we sure didnt need another candidate w this kind of baggage.

we got a full up luggage compartment already.

[bluedigger]

29. His whole business career raises questions for me.

Texaco, Coke, Bain, and most especially ACC Holdings, owner of Ameriquest - the biggest writer of subprime mortgages. Maybe he can make a case that he was trying to change the system from within, but I need to hear it.

[FloridaBlues]

30. His answers to the question are weak

[Funtatlaguy]

31. We had 25 people running originally.

What didn’t they offer that Patrick and Bloomberg do offer?

[Unclephil]

34. My friend's son

works for Bain. Once they get their claws into you there is no way you are going to survive.

[Hoyt]

35. I don't find that an automatic disqualifier, in Duval's case.

"Some observers believe Patrick might be able to make a case as a moderate who was trying to remedy the economic system’s inequities from within through what is known as impact investing.

"Tracy Palandjian, chief executive of Social Finance, a nonprofit Boston impact investor, said that if anyone can rewrite the narrative about how to create a capitalist system that benefits everybody, it’s Patrick.

"“He has lived it,” said Palandjian, whom Patrick has credited with motivating him to get into the investment field. Patrick sits on her organization’s advisory board. “Business has a lot of flaws,” she said, “and it can be a force for good if you can harness it in the right way.”

"Patrick joined the company in 2015 as a managing partner of Bain Capital Double Impact. In 2017, the group closed a $390 million fund co-managed by Patrick to invest in companies by “maximizing their financial potential, and scaling their social and environmental impact.”"

https://www.bostonglobe.com/business/2019/11/14/deval-patrick-worked-bain-capital-one-time-democratic-target-how-will-voters-respond-now/1sBG67wC0jZpIvRSzshgMP/story.html

Since 1984, Bain has invested in some good and bad companies, with good and bad results:

AMC Theatres,
Artisan Entertainment,
Aspen Education Group,
Brookstone,
Burger King,
Burlington Coat Factory,
Canada Goose,
DIC Entertainment,
Domino's Pizza,
DoubleClick,
Dunkin' Donuts,
D&M Holdings,
Guitar Center,
Hospital Corporation of America (HCA),
iHeartMedia,
KB Toys,
Sealy,
Sports Authority,
Staples,
Toys "R" Us,
Warner Music Group,
Fingerhut,
The Weather Channel,
Apple Leisure Group.

[Politicub]

36. Where private equity goes, destruction of companies and jobs follow.

This happens over and over each and every day. Private equity will buy distressed companies, and, instead of fixing them, loot and pillage all of the assets like real estate and make companies go under.