Big Congrats to David Crane for Getting It Right on Pension Fund Transparency

It's rare that people involved in public debates openly acknowledge that they were wrong and change their position. (I'm sure that I would if it ever happened.) For this reason David Crane deserves enormous credit for acknowledging in his Bloomberg column that pension funds should fully disclose the fees and returns from their alternative investments.

This acknowledgement came about as a result of an exchange with David Sirota. Sirota had criticized a number of public pension funds (especial...