Yesterday’s Globe brought us this ridiculous story that is apparently supposed to call into question Deval Patrick’s finances. According to the story, the Atlanta bank holding a mortgage on the Patricks’ Milton home delayed filing the mortgage documents for about two years after issuing the loan. As a result, the loan was unsecured during that time, meaning that in the event the Patricks defaulted on the loan or went into bankruptcy (none of which happened, of course) the bank would not have had the first-priority position that a mortgage lender normally has.
And this is supposed to be Deval Patrick’s fault because …? It’s the bank’s job to file the mortgage, not the borrower’s. The Globe story talks a great deal about the close relationship that this bank and Coca-Cola have, and that Patrick was Coke’s general counsel at the time the loan was made. But the article provides no evidence – not the slightest bit – that Patrick or someone else at Coke somehow prevailed on the bank not to record the mortgage. Nor can I imagine that any banker worth his or her salt would agree to such a request, however close the relationship between lender and borrower. It certainly looks as though the bank just screwed up on its paperwork.
This article, therefore, is pretty sleazy. It is an obvious attempt to suggest through innuendo and wink-wink journalism a kind of questionable behavior of which the article’s author, Frank Phillips, obviously has no evidence.
So come on, Frank. I know, I know, it’s a bummer for you that your colleagues, Walter V. Robinson and Michael Rezendes, scored the scoop of the season by disclosing Marie St. Fleur’s real financial problems, thereby driving her from the Lt. Gov. race. And now you want in on the action. But you’ll have to do a whole lot better than this hack job.