Bias? Common Sense? Journalism?

What do you, noble reader, expect of your journalists?

a) Present the facts and let the smarty audience decide.
b) Go ahead and point out outright falsehoods when reciting the news.
c) Make up stuff that I want to hear.
d) News? Ha!

Many journies brag about following the first approach, but it is clearly difficult to present all the facts of any given situation due to space/time constraints, so, the reportahs must, to some degree, present what they think is relevant. But, what about "simply relaying" something that Ms. X and Mr. Y said when you know Mr. Y's talking gibberish? Is that making a false moral equivalency, if you pretend not to notice that one is a raving lunatic, all in the name of letting the audience decide?

CNN's Campbell Brown seems to think so, and is attempting to "cut through the bull****" in her new show: No Bias, No Bull. Campbell uses the following example to make her point: If one person says it's raining outside, and another says it's sunny, the journalist should have the common sense to look out the window and report which person ought to be gently led away. ('gram to Campbell: Suggest tweak example STOP It possible both sun and rain STOP)

Personally, I applaud her efforts, if she is truly sincere and not just toying with our emotions, to wrest back the mantle of "no bias" from the Bill O'Reillys and the Keith Olbermanns whose shrill partisanship is dismaying. (Not, of course, that there's any moral equivalency between the two; one of them is a complete jackass.) By some stroke of luck, Campbell Brown's show is scheduled for the same time slot as the aforementioned shrillsters. (Centrism...that's our rallying cry! And money maker!)

This whole discussion brought to mind something Paul Begala (no shrinking violet himself, in terms of the spin ability) said last month (ignore the candidate-bashing):

If John McCain and Sarah Palin were to say the moon was made of green cheese, we can be certain that Barack Obama and Joe Biden would pounce on it, and point out it's actually made of rock. And you just know the headline in the paper the next day would read: "CANDIDATES CLASH ON LUNAR LANDSCAPE."
Why doesn't somebody call Neil Armstrong? He's been there. Or go to the Smithsonian and open the glass case that contains a piece of the moon. The moon is a rock. That's a fact, Jack.

Hyok, hyok. Mr. Begala, here's the truth: Neil Armstrong never went to the moon. NASA faked it all.

How's that for journalistic excellence?