DO YOU FEEL IN CHARGE HERE? Bain Of Their Existence? Deval Patrick Officially Enters The Race; Update: Resigned From Bain Capital Yesterday.
Speaking of closing off paths to the American dream, let’s not forget that Patrick famously retreated from politics into the so-called “vulture capitalism” of Bain Capital. Bain operates in part by dismantling troubled firms and leveraging their most valuable assets, a normal capital function but one that Patrick’s fellow Democrats demonized when Mitt Romney ran for president. It’s a process that necessary closes jobs in the short run, although one can also argue that proper use of those valuable assets means more and better jobs in the long run.
Will Democrats forgive that? Early signs point to no:
Read the whole thing for some echos of Mitt Romney’s demonization by the left in 2012.