There are certainly some thought provoking issues here. Do you have a right to prevent websites (particularly blogs, wikipedia, etc) from hosting embarrassing information about you? Slanderous accusations that are completely false? Video taken of you without your permission? True facts that you simply would prefer remained private? Can these things impact your ability to obtain a job (yes)? How would you balance rules about this against people's right to freedom of speech?

I think this is a very difficult matter that will take a long time to figure out.

Daniel Solove, in Scientific American:

Young people share the most intimate details of personal life on social-networking Web sites, such as MySpace and Facebook, portending a realignment of the public and the private

From the archive:

If you work in privacy or data protection either from a technology or policy perspective, you need to read this book and understand Solove's approach.

Praise for The Future of Reputation:

"No one has thought more about the effects of the information age on privacy than Daniel Solove."
—Bruce Schneier

More recently:

Noooooo problem ... don't worry about privacy ... privacy is dead ... there's no privacy ... just more databases ... that's what you want ... that's what you NEED ... Buy my shit! Buy it -- give me money! Don't worry about the consequences ... there's no consequences. If you give me money, everything's going to be cool, okay? It's gonna be cool. Give me money. No consequences, no whammies, money. Money for me ... Money for me, databases for you.

Do Social Networks Bring the End of Privacy?