My point is that blogs and podcasts are regulated - by our readers. Sure, we don't have sub-editors scanning every word we write. Anyone who has ever read Scoble's blog, or any of the top 100 blogs, would understand the way this works. Newspapers, on the opposite side of the fence, don't usually give their readers immediate opportunity to comment on their stories. Letters to the editor isn't anywhere close to having an open comments system. So which system is truly unregulated? Blogs or MSM?
In addition, blogs (and podcasts) are also subject to all the normal rules (eg libel laws), so that ought to be enough.
From a PR point of view, the audience-regulation described by Cameron is preferable to the current MSM position where you have to beg for a correction or write a letter to the editor which they may or may not publish.
But what about blogs without comments and trackbacks; how do I make sure that everyone reading the original post also read my ‘correction’? Technorati etc goes some of the way but it still worries me that blogs w/o comments are beyond the audience-correcting that Cameron describes.