I HAVEN’T FOLLOWED THE WHOLE KOCH VS. CATO THING, but I’m inclined to think that Jonathan Adler is likely right: “A Koch takeover of Cato, however well-intentioned, will necessarily diminish the Institute’s credibility and compromise Cato’s ability to advance individual liberty. This is true whether or not the Kochs are within their legal rights to take such actions and whether or not they have better ideas as to how Cato should be run than current Cato President Ed Crane.”