Lie about military records... Get fired... Lie the country into war... Receive medals... *sigh
If you are claiming to be a journalist and you lie about something, that was and is a reason for firing the person. Not checking your sources properly is also a cause. If you lie about something, you might be an attorney, but you are operating outside journalistic ethics.
Yes, this should have been handled better, but it became clear that this couldn't be verified, CBS should have backed away immediately; they didn't. Hopefully, they will in a future case.
However, if you're the President and you lie, that is reason for re-selecting.