This breach comes at a time when journalism is suffering a crisis of credibility following a string of insults, from Jayson Blair of the New York Times to Jack Kelley of USA Today. Every time a reporter is caught fabricating or cutting ethical corners, the public trust upon which a free press sustains itself is compromised.
Meanwhile, bashing the mainstream media has become America's favorite pastime, especially with the advent of the Internet and blogs. Every time bloggers catch a newspaper reporter or television personality in a flub - and they do with reliable regularity - little electronic sparks fly and virtual champagne flutes clink in the blogosphere.
Bloggers were the first to bring Rather to the mat and have enjoyed a series of successful challenges to the bigger dogs. But there's a misconception that The Media are part of one monolithic corporate kennel and that all outlets are equally culpable.
The truth is, most newspapers work hard at maintaining credibility, admitting mistakes as soon as possible and researching ways to improve quality. Most also have an ethics policy, and many have an ombudsman to address public concerns.
These are all part of an earnest effort to protect institutional credibility and to retain reader trust. So when a broadcaster of Rather's clout and a network of CBS's reach compromise standards to run a story that may not be quite true, the ripple effect of distrust has far-reaching implications and, unfairly, consequences for all journalists.
It is one thing to make an honest mistake, an inadvertent error of fact or recall, as we all do. But a dishonest mistake - knowingly using flawed information to advance a story - is unconscionable and, ultimately, damaging to democracy.
That's why this story matters. Outrage - especially from fellow toilers in the field - is the only appropriate response.