Here's an interesting talking point as we enter the new year. Bill Grueskin, managing editor of the Wall Street Journal's website has been talking about why citizen journalism is not right for the Journal.
"One of the biggest issues we face with citizen journalism is disclosure. That is, in financial and business news, it's vital that readers know what interest, if any, a journalist has in a company. That's why our ethics code is so tough on issues such as stock ownership, selling stocks short, etc. WSJ journalists sign that code every year, and it is critically important in establishing our bona fides on stories in which people can make, or lose, a fortune. I don't know how we could replicate that with citizen journalists."
In an interview with Mark Glaser, Grueskin also spoke of his new enthusiasm for blogs. "We've all come around to seeing how powerful blogs can be and how they generate their own momentum. You can really get the community going." He said that when WSJ's law blogger Peter Lattman did a post about "the heavy prison terms handed out to certain felonious ceos" and asked readers what they thought there were "65 comments posted in a couple hours", and added: "There's a real value there that you wouldn't get in a regular column."
But is Grueskin correct about citizen journalism in the context of covering business affairs?
