Facebook...Good or Bad?

I read an article in the Collegian about a Facebook group that was created in order to hate on a fellow student. The student in question was gay and everyone in the group hated this person. There is also a story on TechDirt that alleges Facebook is "an important and healthy of youth communications these days." While I am an active user of Facebook, I have never seen any groups created that condone hatred of gays or lesbians but apparently they are out there. So is Facebook a good way for kids to socialize, or just another way for some kids to get bullied?