Can the media be trusted?

I have been thinking about the events of the past couple of weeks regarding the stories about Herman Cain and for me they don't pass the smell test.
First Politico ran the story about a couple of women who claimed they were sexually harassed, yet they could not say who gave them the tip, they had no idea what the charges were, they could not verify the sources or tell us any details at all. The fact that there was no proof of anything they kept the story going and every news station I turned on were running with it, even Fox News was running it almost non stop (they were not saying the things some of the others were). Many of them insisted that everything was true and the Cain campaign was finished. The people were still supporting Cain so they went further and the woman came out with Gloria Allred and made more claims, again with no proof, my instincts said they were not true because I asked my wife if something like that happened to her if she would need to read it or if she would remember it? She said she would be able to tell it from memory yet the woman had to read every word, I got the feeling someone wrote down what they wanted her to say. Kind of like how Obama reads everything from a teleprompter.
Now this has been just about the only thing the news is talking about. Ignoring some of the things they should be talking about (ie Fast and Furious, Iran getting a nuke, the super committee, 2012, the republican candidates tax plans, how to get jobs created, the violence at the OWS protests) as well as many other important stories.
I say the media has lost all credibility and I ignore their opinions. Unless their is some real proof, which personally I doubt, I will support Herman Cain because I believe he is trying to help the country where career politicians say whatever they need to say to get elected. I'm tired of politicians and I don't trust them. I think Herman Cain is wise enough to get people around him who are experts in certain areas and he will seek their advice and listen to them, unlike what we have now. I would not complain about Newt as VP because he does know how DC works.