Trying to delete bullets from editor results in unselectable hanging bullet

To reproduce, create a new page and select Insert->Wiki Markup.

Then copy and paste the following text, and insert it into the page:

* foo
* bar
** broz
** baz
*** top
** bottom
* middle

Now, after the content has been rendered, click the pointer in front of the word "baz" (see "before.png") and then click the delete key (see "after.png").

Note that "baz" has jumped up one line but the bullet below remains where it is. It is also no longer possible to select the bulleted line below the "baz".

Safari 5.1.2 on OS X 10.7.2.