Because I can think of quite a number of stories over the years, and even in terms of this current conflict in the Middle East, where there were falsehoods in the fog of war or even intentionally seeded that turned out not to be true and many of the news organizations airing them initially only took stories down and didn't run front page denouncements of their own reporting.
I agree that retractions and in general journalistic integrity needs a bit more attention as a global society, but banning news organizations that print things you don't like is something I tend to associate with a very Stalinesque mindset and not a bastion of democracy and liberty.
In general, individuals and groups are bettered by exposure to naysayers than surrounded by yes-men.