An interview with Jay Rosen is here.
The thread connecting Do It Yourself ethics/aesthetics to all of this interests me.
Dave, your argument is starting to gel. You have made any number of criticisms of old media in the past, but this is a critical one.
I look at the loop as a fluid one (even if the existing hierarchies don't appear to represent it that way). Source->Newspaper->Blog and then (maybe)->Newspaper is what that existing map looks like. But now it's Source->Blog->Newspaper->Source->Blog. The reality may be more spaghetti than this neat little line. Call it a Spaghetti of News instead of a River!
This dynamic is more fluid when the source is part of the story, as it is with tech issues(for example), than a report on a single incident. Then the feedback whine commences! If Jobs had a real blog instead of a manifesto on DRM * and he responded to the "Comments" on his DRM screed -- the "Comments" being the newspapers, record company whores, bloggers, then you would have a juicy example of this feedback in action.
Not everyone will have or wants a blog, but anyone CAN. This is town meeting democracy + D.I.Y. writ large. Hmmm... "We are all Sources now."
*(not that I didn't agree with his manifesto, not that I don't like the form, b/c manifesti are cool--and not that I don't love FSJ...)