It's time to discuss and finalise rules, regulations, values, ethics in social media

It's time to discuss and finalise rules, regulations, values, ethics in social media
http://www.nytimes.com/2011/07/21/technology/social-media-history-becomes-a-new-job-hurdle.html
This is New York Times News.....
This will make lot of people around the world, extra CAUTIOUS about their every emotion being put on social media, especially after this news.
Earlier, social media was used for sharing every emotion with public and the feedback was useful.
Ex. I'm a poet as well. Hence, whenever I feel and experience something I put it on the Social forum, get feedback and refine it.
However, it seems that even if it is ethical and do have values associated with it, still if whatever a person writes on social media is taken negatively by some people who are in HR department, then, creativity will be lost...is what I feel.
Though I know they have their own constraints still, now, I think some social media policies should be made, some rules and regulations should be made to be known in advance before it becomes practice all around the world. This, will give chance to billions. Some of my students have contacted and said, "Sir, we are gone if it becomes reality."
Hence, let's define, design rules and regulations and ethical and non-ethical practices in social media and discuss it and then finalise it. This, will become doctrine like traffic rules and regulations that have been acceptable all around the world.