From the Wall Street Journal:
In place of an existing document that Facebook admitted was “longer than the U.S. constitution – without the amendments,” the draft policy contains chunks of information organized around more practical headings such as “Your information and how it is used” and “how advertising works.”
The new policy includes screen shots that show what advertisers see about Facebook users. “We struggle with really hitting home to users that we do not sell their data to advertisers,” said a Facebook lawyer, probably while playing Farmville.
A policy director at the ACLU says it’s all well and good for Facebook to make its policy more reader-friendly, “but users should be looking for privacy policies that are not only readable, but actually protect their privacy.”
Of course, the one way to avoid having any of your personal information shared on Facebook is to not share any of your personal information on Facebook.