>I'd assume theymos wouldn't want the site shut down and/or face other legal issues.
Perhaps, but AFAIK promoting unregistered securities & unlicensed online gambling is not strictly legal in US either, is it?

>Please point out where the forum is being overrun with CP, drugs and guns.
My point precisely. The forum is not being overrun by CP, drug & gun sales, without subforums being created for any of that. Because against forum policy.

Bitcointalk is not about providing a platform for degenerate gamblers, it's about discussion and promotion of Bitcoin. Having Bitcoin associated with ponzis is bad for Bitcoin. Promoting ponzis on Bitcointalk is bad for Bitcoin. This is prima facie shit, the fact that I need to explain this is, frankly, worrying.

This forum is not powerless at policing its policies. Millions of dollars were donated to Bitcointalk (not millions at the time of donation, but thanks to BTC price increase). If you feel that's not enough to pay for forum moderation, I guess I got nothing.