JOHN BUSSEY: Look, CNN ran a story, they retracted it --

SMITH: On their website.

BUSSEY: On their website, right. They apologized for it.

SMITH: And what they said was, because I want to make sure we get this right, what they said was “they didn't go through their procedures. It didn't make it through standards and practices” they said, and “it didn't make it through editorial checking,” afterwards three people resigned.

BUSSEY: And this is what you want to have happen, right? You want to have a news organization when they find that they got something, you know, that didn't go through their process properly, they retract it and publicly state “we made a mistake.”

SMITH: It's like an example of how to do it. If you make a mistake journalism 101 says “you admit your mistake, you correct it immediately and you take corrective action.” And that's what they did.

BUSSEY: And more importantly you have all those standards and you have all of those procedures and you have all those editors panels --

SMITH: Exactly.