BakedJake posted a link to a new anonymous interview at the Register named Interview with a link spammer. I bet BakedJack knows the name of this anonymous link spammer. :) Anyway, it makes for a nice read. Here are some quick quotes; because I need to run.
So how and why do "link spammers" - as they generically call themselves - do it? Are they the same as the email spammers? What do they think of what they do, ethically? And what can stop them? If you're affected by this spam, say because you run a blog, or a website, or like the other 99.9 per cent of Net users just come across the stuff, Sam explain the important thing to remember is it's nothing personal. They're not targeting you personally. They're just exploiting a weakness in a system which blossomed just at the time that Google cracked down on the previous method that spammers used, where huge "link farms" of their own web sites pointed circularly to each other to boost each others' ranking.
Will the initiative by Google, Yahoo and MSN, to honour "don't follow" links defeat Sam and his ilk? "I don't think it'll have much effect in the short, medium or long term. The search engines caused the problem" - we didn't quite follow this bit of logic, but Sam continued - "and they're doing this to placate the community. It won't work because most blogs and forms are set up with the best intentions, but when people find hard graft has to go into it they're left to rot. To use this, they'll all have to be updated. The majority won't be. And there'll just be trackback spamming."