It's quite fascinating to watch these bloggers working at lightning speed, beating out the more professional news orgs, and getting cited by the lesser news orgs with less exacting standards. They get the scoop, but then have to apologize and modify.

On one of skarpi's Iceland threads, Emma B tracked down what seemed to be the original source of blogged news that was inflaming the sentiments of Icelanders, such as an alleged mob attack on the Iceland embassy, while no one else could find any reference to it in google news sources.

One can imagine some harm resulting from a wave of emotion caused by temporary misinformation (although it would have to occur very quickly.)