New Democratic Candidate: What Did Deval Patrick Do at Bain Capital? - Rolling Stone
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Deval Patrick’s Bain Capital Bio Has Vanished. Here’s What it Said

The newest Democratic presidential candidate is a friend of Barack Obama’s, but just left the private equity firm made famous by corporate raider Mitt Romney

Deval Patrick, Former Governor of Massachusetts, speaking at the AIPAC (American Israel Public Affairs Committee) Policy Conference at the Walter E. Washington Convention CenterAIPAC Conference, Washington DC, USA - 05 Mar 2018

Deval Patrick, Former Governor of Massachusetts, speaking at the AIPAC (American Israel Public Affairs Committee) Policy Conference at the Walter E. Washington Convention Center.

Michael Brochstein/Sopa Images/Shutterstock

Deval Patrick has entered the race for the Democratic 2020 presidential nomination, with a launch video highlighting his humble roots on the South Side of Chicago.

Patrick is pitching this appealing, boot-strapping biography to Democratic voters, insisting that he understands the anxiety and frustration of voters who have seen their own prospects diminished by a government and economy that are “letting us down.” Patrick is a close friend to Barack Obama and is expected to campaign as the true keeper of the 44th president’s flame. What Patrick does not tout, however, is that he also has a lot in common with the man Obama defeated for the presidency in 2012.

Until this week, Patrick’s American dream has included service at Bain Capital — the private equity firm whose “greed and debt” ethos and penchant from profiting from failure at the public expense, is most famous for helping Mitt Romney afford a car elevator. According to a spokesperson for the firm, Patrick has now resigned his post as a Managing Director at Bain — which wasted no time in erasing him from its website. Visitors to Patrick’s bio page this morning were first greeted with a 403 error. The page now redirects to Bain Capital’s “Double Impact” business that Patrick helped lead, which describes itself as “building great companies that deliver both competitive financial returns and measurable social and environmental good.”

The Internet is forever, however, and we found Patrick’s corporate biography captured by the Internet Archive’s Wayback Machine. Patrick’s resume for business is different than the one he presents in his launch video, highlighting service to corporate polluters that may not work to his favor in the Democratic primary, particularly his experience as Vice President and General Counsel of Texaco — the oil firm that’s now a subsidiary of Chevron. Here’s what Patrick’s Bain bio said as of September 11th of this year:

Governor Patrick joined Bain Capital in 2015 and is a Managing Director and Co-Managing Partner of the Double Impact business.

Prior to joining the firm, he served as Governor of the Commonwealth of Massachusetts for eight years. Before entering public office, Governor Patrick was Executive Vice President and General Counsel of The Coca-Cola Company. He also worked as Vice President and General Counsel of Texaco, Inc. and served on the company’s Executive Council. Governor Patrick was previously a Partner at Day, Berry & Howard and a Partner at Hill & Barlow. In 1994, he was appointed by President Clinton as Assistant Attorney General overseeing the Civil Rights Division of the U.S. Department of Justice.

Patrick did not immediately respond to a request for comment. But on the “Meet Deval” section of his new campaign website touting his rise “From the South Side to the State House,” Patrick casts himself as a corporate reformer: “Deval has always been called to service, but that service has not always been in the public sector. He led reforms at Texaco, where a court appointed him to create a more equitable and inclusive workplace, and at Coca-Cola, where he stood up for employees and unions.” As for his service at Bain, helping launch Double Capital, Patrick’s website insists: “His life has always been about rejecting false choices, and his new fund was meant to show that private companies can be a force for public good.”

In This Article: 2020 election, Deval Patrick


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