Working Life Podcast

Episode 157: Deval Patrick has become very, very rich since leaving the post of Massachusetts governor. That’s what happens when you become a managing director of Bain Capital, one of the behemoths in the private equity industry. Patrick became rich working for a company—being a managing director of a company—that has screwed thousands of workers, especially 30,000 workers for Toys R Us who don’t have a job today because Bain Capital, with Patrick in the leadership, drove that company into liquidation. I talk about Bain Capital’s role in the demise of Toys R Us with Jim Baker, executive director of the Private Equity Stakeholder Project. Support the podcast here: www.patreon.com/WorkingLifePodcast Over a decade ago, I started reading about something called a “Financial Transactions Tax”. It’s often also called a “Tobin Tax” after its creator, economist James Tobin, and it originally focused on taxing currency speculation. But a broader idea is popular: each time a Wall Street trade is made, a very, very, v