The bad Facebook press of the past week was overblown. Mostly by journalists that don’t use it.
TechCrunch posted the best reality check:
Facebook just turned 5 years old. But a week that should have been filled with reflection and good times was instead marred by a series of breaking news reports detailing sex scandals, phishing, and other malicious activity on the world’s largest social network. …
Most young people where I live use Facebook every day. And cannot live without the site.
The good far outweighs the risks.
Rick McCharles 
Facebook is great – it allows me to keep up to date and in touch with people from all over the planet who are friends and acquaintances. I don’t use it as a way to meet new people and I don’t download the many stupid applications. I simply don’t care who has a secret crush on me. If it is used in this way, I agree, the good far outweighs the bad.