The guy who started the ball rolling on Eason Jordon is apparently having second thoughts:

Mr. Abovitz, who started it all, said he hoped bloggers could develop loftier goals than destroying people’s careers. "If you’re going to do this open-source journalism, it should have a higher purpose," he said. "At times it did seem like an angry mob, and an angry mob using high technology, that’s not good."

Source Note: David Gergen agrees.