The problem with Wideboy's point, which is generally a fair one, is that a monster libel can be posted, and be off into cyberspace by being reposted before the moderators can get their hands on it. A newspaper has to push the button to start the presses, a TV company has to roll the tapes, but BBs like this one receive their content passively, and unless all posts are quarantined before being moderated there could be a problem.
Perhaps I am being over-cautious, but I don't think so.