to little too late. a better trick would be to direct google searches of facebook to news articles about cops using facebook to catch people doing illegal things, employers using facebook to screen applicants, and facebook selling your information to marketing companies. if only one of said examples is displayed in search results every time the word facebook is used, you'd see the beginning of the end of facebook as the 'cool' would just be removed from facebook.
that'd still be a "do no evil but we see this evil" policy. it sounds evil, but if stating the truth is evil, i think your world is seriously screwed up!