Some interesting insight into the potential dangers of insta-reporting via Politico blogger Ben Smith.

But the scale of this story was simply too big to report that way, to share information with high but imperfect confidence – and without making that level of confidence crystal clear. I should have waited for a second source, or hedged the item much more fully. Or simply waited for the news conference like everybody else.

Smith had reported earlier this morning that Edwards was dropping out of the campaign as his wife continued to recover from cancer.

Appreciate the apology, Ben, but it doesn’t do much to get me back those Edwards intrade contracts I sold off this morning for super cheap. : (