Can biz media merge perspective with distance from sources?

Bruce Watson of Daily Finance takes a look at how the business media failed to warn readers about the economic crisis and searches for a solution.

Watson writes, “As more and more members of the general public feel obliged to watch the financial market, the question increasingly becomes who, exactly, they can look to. On the bright side, the freshly chastened news industry is now all too eager to find flaws with big banks. But it’s worth asking if they have either the distance or the vocabulary to present these stories to the public; simply put, they may be too far inside the problem to adequately communicate it.

“Unfortunately, they also are in the best position to tell the story. The key ultimately may lie in finding a way to marry the perspective and distance of financial neophytes with the information and context of professionals. Or, in other words, to present the financial news without becoming seduced by the financial profession. It remains to be seen if the media are, indeed, up to the task.”

Read more here.