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Shield Laws for Bloggers?

Wow...Now this is interesting.  Panel Explores giving Reporters' Shield to Bloggers. Think of the implications....Obviously this is a big deal for bloggers, but I wonder what kind of gray area will develop as a result?  What happens if someone publishes complete hearsay or some ruinous libel--what kind of protections are there?  On the other hand, this does encourage whistle blowers and other folks to step forward that might not have previously thought to contact a member of the mainstream press. 
 
Should be a great debate. 
 
-- JR
 
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