Shortly before 3 p.m. [Monday], the men and women of the Cato Institute strolled into the renovated Friedrich von Hayek Auditorium to confirm their good news. Five days earlier, the Washington Post broke news of a settlement between David Koch, Charles Koch, and America’s largest, longest-lived libertarian think tank. Ed Crane, 68, Cato’s president since its 1977 genesis in San Francisco, would step down. His replacement would be John Allison, 64, a banker who’d endowed college courses on the work of Ayn Rand.
“I didn’t see today as Ed’s swan song,” says Levy. “He’s going to stay on for a while as CEO, and after that, he’s going to remain a very important consultant on fundraising and other issues.” What about all of that public Jell-O wrestling with two of the planet’s richest men? “We’ve gotten past that.” David Koch had stopped donating to Cato, but “if everybody behaves in a way that was contemplated, he’ll be a supporter in the future as he was in the past.”
After some speculation, we now have an idea of some of the changes that will be made at the Cato Institute as a result of the lawsuit filed by Charles and David Koch. We had heard rumors in recent days, much of which was true.
Dave Weigel offered up some details on the campfire that was held yesterday at Cato to explain to employees what had transpired and how they would move forward under the terms of the agreement: