Group launches watchdog site for business journalism

Media Matters for America announced the launch of Financial Media Matters, a Website that it says will be dedicated to holding accountable those who report on the financial and business industry as well as those who report on labor, economic and other fiscal matters.

Media Matters says it created the Website because the media have consistently offered false or misleading coverage of the causes of and proposed solutions for the current economic crisis.

Many journalists, both in the financial and mainstream media, it claims, have failed to critically examine the issues and instead have simply repeated partisan spin –from using the phrase “Obama Bear Market” to touting CNBC on-air editor Rick Santelli‘s rant as being “populist.” With this in mind, the new website will focus extensively on ensuring that outlets such as CNBC, Fox Business Network, and The Wall Street Journal are held accountable.

“As people across the country struggle with losing their jobs, losing their homes, and losing their nest eggs, Americans are depending on the media — especially the financial media — for answers,” said Eric Burns, president of Media Matters, in a statement. He added, “We are launching Financial Media Matters because the public deserves accurate and honest reporting on what is happening and what is being done to fix the economic crisis.”