So the pioneering Wallstrip is still M.I.A., but CBS has figured out a new way to combine finance and online video for its new CBS MoneyWatch.com personal finance site, formally launching Tuesday. The site aims to give a more real and realistic take on money than the standard stock-picking financial media approach. Further, MoneyWatch will be a way for CBS to prove it can do integrated content, post-CNET acquisition.

MoneyWatch (a leftover brand from when CBS owned MarketWatch) will air 5-10 segments per day of between 3 and 5 minutes each. But, from the outset, CBS is trying to make this more than a single-platform play. Editor-at-large Jill Schlesinger, a retired financial adviser, will shepherd MoneyWatch’s commentary as an oldteevee on-air correspondent on the CBS News Early Show, the CBS Evening News with Katie Couric, and local CBS TV and radio stations. This kind of effort parallels CBS’ new interactive fiction TV show Harper’s Island, made with lonelygirl15 creators EQAL.

“CBS fundamentally believes that the financial crisis is one of the big stories for the next two years,” said Greg Mason, general manager of CBS Interactive’s Business Network (BNET). Thus, the official mandate for MoneyWatch is “to help people make smart decisions on how to manage their money and take control of their financial lives.”

Read more of this story