I found out about the Cato Institute from the gun ban recently lifted in DC. The lawyer that spearheaded the lawsuit (Robert Levy, a member) was someone who got rich in finance then dropped it to go to law school at the ripe old age of 50. He said his only interest was protecting the constitution, and this was the only (and first) lawsuit he's ever been involved in. The Cato Institute was founded in 1977 by Edward H. Crane. It is a non-profit public policy research foundation headquartered in Washington, D.C. The Institute is named for Cato's Letters, a series of libertarian pamphlets that helped lay the philosophical foundation for the American Revolution. The Cato Institute seeks to broaden the parameters of public policy debate to allow consideration of the traditional American principles of limited government, individual liberty, free markets and peace. Toward that goal, the Institute strives to achieve greater involvement of the intelligent, concerned lay public in questions of policy and the proper role of government. In order to maintain its independence, the Cato Institute accepts no government funding. Cato receives approximately 75 percent of its funding from individuals, with lesser amounts coming from foundations, corporations, and the sale of publications. http://www.cato.org/
He entered George Mason University School of Law. He graduated as class valedictorian. After graduation he clerked first for Judge Royce C. Lamberth on the United States District Court for the District of Columbia and then for Judge Douglas H. Ginsburg on the United States Court of Appeals for the District of Columbia Circuit. I am not sure if this was the only lawsuit he has ever been involved in, but he has some serious experience clerking for those two Judges.
Rothbard was heavily involved in the Cato Institute at it's start. That they have stricken mention of Rothbard from the record is a political matter. Cato, (t)Reason magazine and some other DC based "orangeline" groups are heavily funded by the Koch brothers, who are libertarian-esque Republicans. The Mises Institute was formed by Margit von Mises, FA Hayek and Henry Hazlitt after Rothbard was displaced at Cato. There is a lot of bad blood between Cato and Mises leadership, with the Cato crowd taking shots at Ron Paul throughout the election, even though his policies are exactly what they claim to work on in their think tank. You'll find that Cato does really excellent policy work, and some excellent analysis. However, they do not address smaller government in any meaningful way, they endorse the warfare state and they have some questionable folks (ideologically) on their staff. I don't like their obsession with Milton Friedman, I think it's unhealthy because Friedman was a monetarist, not an Austrian. The Chicago school is not the Vienna school of economics. All things considered, I would certainly read and source Cato work, but I put my money and support to the Mises Institute. The latter is more about education and preserving the legacy of the great free market economists. Cato is more geared towards Washington power and politics.