The lesson of today's memo release - don't trust Christopher Steele.
DOJ and FBI failed to mention in their FISA application that it was based on opposition research paid for by the Clinton campaign and the DNC, even though this apparently was known to the FBI. The application apparently tried to mislead the FISA court by saying that Steele “was working for a named U.S. person”–the memo doesn’t tell us who that person was–but not disclosing Fusion GPS or Glenn Simpson, let alone Hillary Clinton and the DNC. This appears to be a deliberate deception of the court.
In addition to Steele’s fake dossier, the FISA application cited an article about Carter Page that appeared on Yahoo News. The application “assessed” that this corroborating account did not originate with Christopher Steele. In fact, it did: Steele himself leaked the information to Yahoo News.