Born in Freeport, Texas, Rainey received a B.B.A. from Southern Methodist University in 1967 and was in the United States Army from 1969 to 1970.
Born in Freeport, Texas, Rainey received a B.B.A. from Southern Methodist University in 1967 and a J.D. from Southern Methodist University School of Law in 1972. He was in the United States Army from 1969 to 1970.