As usual danah boyd hits it on the head while discussing how Facebook continually changes its privacy settings (in MIT Technology Review) without caring for how it affects users. Her example on page two of how this impacts teachers is particularly meaningful for me (and probably many of my readers).
Facebook has the opportunity to be responsible, a leader in how social networking companies ethically and morally protect their users' data, but in fact they've shown just the opposite - a sort of, 'your data is ours to get out there in whatever way we see fit.'
I'm hopeful that a new generation of companies/organizations will arise to challenge our understanding of privacy - the American Library Association has a wonderful resource called Privacy Revolution, in that spirit.