Using similar content in various sites of yours, article sites creates duplicate content. When you bookmark your URL the description of your site is automatically fetched, any one can bookmark your site if they like it. Social bookmarking will not create duplicate content issues.

I have not noticed a significant duplicate content penalty. I personally don't believe a penalty exists, but Google surely doesn't like it.

Your website don't get expected ranking over internet.

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Google finds duplicate content,then Google engine will throw your site in to sand box temporarily.

You don't have to worry about a duplicate content issue. Google/Bing has various ways of detecting the original news source. I'd rather worry about all the pages that are going to be indexed as 404's. You will suffer a lot of downtime which will be quite painful to your incoming links.

When the site is down, make sure all the incoming links redirect to a page saying the site will be back soon and is suffer some technical/hosting issues. This way you will hopefully not lose any backlinks.

When your site is back up, check Bing/Google webmaster tools for which pages are reported as 404's. Manually add those in a XML sitemap and submit these to Bing and Google for quick re-indexing.

Good Luck!