It doesn't seem that bad. He mentions exchanges other than Tradehill and you don't HAVE to click his link. Actually I think it could be quite informative to traders who don't follow the forums or know of any other exchanges.
So sending 60,000 emails using a stolen database is okay, because we didn't HAVE to click the link in it? That's insane, even coming from a guy named "pancakes". Just because I hate you now, I'm eating your namesake for breakfast tomorrow. I hope their fluffy, syrupy demise transmits some telepathic pain to you. Man, I'm telling you, I can eat a lot of pancakes, so prepare for my wrath.
By the way, guy-who-did-this-if-you-are-reading-this, that counts as a felony if you happened to send emails to people in certain states, like Virginia. Hopefully tradehill has some good records of you.