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One point that I think is notable is that Smith -- notwithstanding the series of highly questionable and Drudge-affirming articles he has churned out -- is no fire-breathing, Machiavellian, scheming right-wing operative. By all accounts, including from many people who are familiar with him and his pre-Politico journalism, he's perfectly decent and ethical and almost certainly not someone who subscribes to right-wing political views.
When I worked for a friend of mine as he ran for Congress in the 11th district here in Brooklyn last year, Ben Smith's political blog at NY Daily News was, for me, far and away the best resource among the several NY political blogs. He seemed like a very good reporter and a decent guy.
I've been disappointed with some of his work at The Politico but I hold out hope that he will "come back to us" in time.