National Endowments for Journalism?

"The internet is well suited to detect scandals that require lots of bloggers to spend a little bit of time searching for bits of incriminating evidence. But it's no substitute for serious investigative reporting that requires weeks of intelligent inquiry to get to the heart of the problem. Without Woodwards and Bernsteins, there will be even more Nixons and Madoffs raining mayhem and destruction."

That's an excerpt from a provocative article in the Guardian by Bruce Ackerman and Ian Ayres. Their solution to declining newspapers and mass reporter layoffs? A national endowment for journalism.

Full article