There's two reasons I welcome it. The first is that the traditional media are always very careful not to upset financial advertisers. It's where all too much of their income comes from, so they really don't like to uncover the slightly dodgy (but legal) activities of all too many of these companies. On a blog, of course, there is no such pressure.
The second is that the blog format allows the author to write in much greater detail. Exactly what's going on, not compressed into the 400 or 500 words typical of a mainstream piece. While with some writers this leads to maundering, when discussing financial products it's much better to present all of the details, so as to present the whole story.
For example, this blog about piggyback loans. Now I'm pretty savvy financially (I've worked in the industry, but I've been out a few years) and I didn't know anything about such loans. But it's explained simply and clearly so that I know what's going on. Similarly, this one about indymac makes very clear the changes going on in the marketplace as a result of the meltdown in sub prime loans.
All in all an excellent resource for anyone trying to find out more about how mortgages and the mortgage markets work (or, regrettably, in the current circumstances, don't work).
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