On the subject of Patrick's Bain Capital ties, Axios's Dan Primack writes:
There is unconfirmed speculation that Patrick was awakened in his suburban Boston home last night, by the sounds of champagne corks popping at Elizabeth Warren's campaign headquarters.
Really, plutocrats? You're terrified that Warren might be the nominee, so you urge Mike Bloomberg and Deval Patrick to get in the race -- and you're probably among the "many, many, many people" urging Hillary Clinton to jump in as well?
This is crazy. It reminds me of the streaming wars -- company after company is announcing a big new video streaming service, and while some are going to thrive, others are sure to bomb. (Will there really be a market for Peacock or Quibi?)
But this is how top executives think: Why not jump into a crowded field? What's the downside of oversaturating the market? If you're the executive responsible for one of the flops, the worst-case scenario is that you'll lose your job and get an eight-figure golden parachute. So why not?
That kind of thinking seems to be making the fat cats want to urge every business-friendly Democrat into the race. Good luck with that, guys.
There's no real punishment for spending other people's money on ego runs like this, even for people like Bloomberg who have billions of their own to spend. I know we talk about the right-wing gravy train, but the left version of it exists as well. Yeah, some people fall off the tracks or get run over completely (talking to you, Moose Lady) but for the most part, politicians go on to sinecures and rake in big money.
The people out there with 10, 11 figures in their net worth? They make things happen in politics.