Here are a few highlights from Cato Today, a daily email from the Cato Institute. You can subscribe, here.

• “Bright Lines and Bailouts: To Bail or Not To Bail, That Is the Question”: Vern McKinley and Gary Gegenheimer have a new Policy Analysis that discusses the failure of bank bailouts.

• In a new piece at National Interest (Online), Doug Bandow offers a new strategy for dealing with Kim Jong Il.

• Nat Hentoff reports on Obama’s broken promises of transparency in the Washington Times.

• Make no mistake: “Of course it was torture,” says Gene Healy in this week’s Examiner column.

• In Tuesday’s Cato Daily Podcast, foreign policy analyst Benjamin Friedman discusses the record of Defense Secretary Robert Gates under Obama.