You can control who sees your news feeds at facebook; however, I decided if I didn't want people to read my feeds, then I shouldn't "friend" them. I use this rule for other social media sites, too.
I keep part of profile public, so that those I meet at conferences or events can find me. I am careful about what displays as my public information, though.
I don't 'friend' anyone I supervise or any students from one of my workshops/presentations, but if they friend me, I accept the friendship.
I do not post any photos or video of my family without permission. I expect them to do the same.
I use Facebook for networking, promotional, and professional development. I push out technology posts and art updates. I follow several colleagues and artists who send me wonderful links and readings through facebook.
I accept that my family, friends & colleagues use Facebook and unless they post something really inappropriate (like they were going to bring a gun to work tomorrow or they enjoy stealing from the company), then I wouldn't call them out on it. I may not agree with their politics or personal beliefs or work habits, but I understand that we are all human and have the right to our thoughts. It is really about respect. However, if I discovered that anyone I knew were abusing the internet (regardless of website), then I would question that.
Most importantly, I keep an eye on my digital identity, my “digi-cred.” I google myself. I cultivate my website, crosspost my content across social media websites, I tag myself as a brand, and I make sure that what I put out there is good.
I use digital identity services like claimID and openID.