Directorship is now following you on Twitter,” an innocuous e-mail announced to us last month. What? Could one of America’s board publications be taken with tweets?

The answer, which is yes, exposes a broader truth. If there is one thing the financial crisis has spawned, it is a virtual wave of fresh channels of information on what companies and investors are doing.

And we do mean a “virtual” wave. Behind the scenes, players in the marketplace are now busy planting their work in social networking and other Internet spaces that simply didn’t exist several years ago. And the Securities and ...