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Patrick was already confronted with his history at Bain, which became the main point of attack against Romney in the 2012 election.
During the 2012 election cycle, President Barack Obama’s team went after Romney via ads, statements and videos for Bain’s activities, including buying and selling companies and killing American jobs. The idea was that the private equity firm was motivated by profits, with a blatant disregard for how workers were impacted, which is how Obama’s campaign intended to paint Romney’s motivations.
One ad notoriously described Romney as a job-killing “vampire.”
Patrick has already addressed his past at Bain on the same day that he declared his candidacy.
During a press availability in New Hampshire, Patrick, positioning himself staunchly as a capitalist, said he never bought into the Obama campaign’s line of attack.
“I smile because when I was co-chair of the Obama-Biden campaign in 2012 and there were all the attacks on Bain Capital on account of Mitt Romney, you know, I was asked about that. And I didn't. I didn't buy it then and I don't play it now,” Patrick said. “I do think that capitalism — and I am a capitalist — has a lot to answer for. There are reasons why people and justifiable reasons why people feel like our economy and our government has been tilted too much in the direction of moneyed interests.”
And some Democratic strategists think Patrick's ties to Bain could come back to haunt him.
“That will be an issue for some in the primary but would likely be less of a problem should he reach the general election,” Christopher Hahn, Democratic strategist syndicated radio host, told FOX Business. Still, Hahn thinks Deval was a “clear star” as Massachusetts governor and should have jumped into the race sooner.
Democratic strategist Hank Sheinkopf told FOX Business that more questions regarding Patrick’s connections to Bain Capital will likely appear should his standings in the polls rise.
A big theme among many of the progressive 2020 Democratic candidates has been fighting against billionaires and corporate greed. Independent Vermont Sen. Bernie Sanders and Massachusetts Sen. Elizabeth Warren, A Democrat, have painted the interests of corporate America and the wealthy as pursuing profits at the expense of the middle-class.
Patrick joined Bain Capital in 2015 as a managing director and co-managing partner of the Double Impact business. His bio has already been erased from the firm’s website. He also held executive positions at Texaco and Coca-Cola.
Still, Warren has named Patrick as someone she would potentially nominate for a cabinet position, should she secure the presidency. Patrick donated $5,000 to Warren’s senate campaign in 2018, as reported by Politico.
Patrick served two terms as governor of Massachusetts, from 2007 to 2015.