Pension reform crusader David Crane loses his post as University of California regent

Sacramento Bee, 12/27/11.

Pension reform crusader David Crane steps down today as a member of the University of California Board of Regents.

That’s because the state Senate didn’t confirm his appointment to the post within the year prescribed by law.

“Finally Some Good News for UC Students, Faculty, and Workers,” blared the headline of an 1,100-word news release last week from Sen.Leland Yee, D-San Francisco, celebrating Crane’s impending departure.

Former GOP Gov. Arnold Schwarzeneggernamed the millionaire investment banker to a 12-year term on the UC board. Democrats, unions and other public pension defenders saw it as a poke in the eye.

Crane, a Democrat, was Schwarzenegger’s point man on public pensions. He contended that the state’s three largest funds, including UC’s, were committing “generational theft” by understating their liabilities and siphoning money from schools and social programs.

“I look forward to the day when the California Legislature stops privatizing the University of California and forcing painful fee increases on students,” he said Friday via a spokesman.

It probably didn’t help Crane’s standing with lawmakers that he also heads Govern for California.

“Our state government isn’t working,” the group’s website says. “We can fix it by electing a few courageous legislators.”

Link to full article: http://www.sacbee.com/2011/12/27/4146490/the-buzz-pension-reform-crusader.html