Tim has already posted this morning on the alleged Downing Street operation to smear leading Conservatives, also covered in detail by Guido.
The Telegraph splash this morning suggested that emails emanating from Downing Street discussed the establishment of "a Left-wing version of the Guido Fawkes blog called Red Rag" but that the "website never appeared" - which has now been shown not to be the case.
The Telegraph erroneously links to this site called Red Rag, but Dizzy has identified another site called Red Rag which is unquestionably linked to whatever discussions were going on in Labour and Downing Street circles last November.
Here are the relevant registration details for that site:
That registration date is not insignificant: it is the very day that Iain Dale revealed that Derek Draper and others met at Labour HQ to discuss launching the party's "cyber war"...