You and I see them every day, sites made for AdSense. Either they scrape content or some other form of content generation and stick up AdSense ads on them. ThreadWatch spotted a thread at WebmasterWorld named The beginning of the end for AS spam publishers..?, which discusses just this.
That thread summarizes a discussion by GoogleGuy on page 3 of the Questions for GoogleGuy discussion. GoogleGuy says straight out;
I hate spam pages that use AdSense.
Let's see how they prevent this in the upcoming summer.
