Social Media

I am conducting an independent study as part of my undergraduate credit requirements about the role of social media. I found that it is troublesome for some firms to successfully implement New Media into their regular PR strategy for clients.
I find it interesting that it is becoming more and more popular to use someone's Facebook or Myspace profile information for a story without a consent or anything. I am wondering if the government will step in to regulate the internet soon. Just like it started out with radio, newspapers, magazines and film that once it became so out of proportion the government started regulating it.
I think that if a reporter was to use someone's Facebook information for their story that it should be required to ask for permission first. Eventhough it is displayed as public information, to a certain degree it is but basically it is personal information. It just would not be good journalism.