Facebook is the biggest photo upload site on the net now, yes bigger than flickr and bigger than photobucket.
Flickr say you own your photos and can do with them and license them the way you want.
Facebook say that you grant them a license which allows them to do whatever they want with the photos as long as they’re up on their website.
I haven’t read Facebooks privacy policy.

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[...] Since Google is the new Microsoft, Facebook has a chance to present itself as the new Google. Too bad facebook has already taken the evil legal low road. [...]