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According to XConnect:V

2. FACEBOOK SIMPLIFIES PRIVACY SETTINGS
After a month of complaints from users, Facebook announced its new “simplified” privacy settings yesterday. At a press conference at the site’s Palo Alto headquarters, CEO Mark Zuckerberg acknowledged users’ frustrations over privacy issues. There has been significant backlash from people who believe the social networking site has made too much of their information public. “We just didn’t communicate as well as we should have,” Zuckerberg said. “Feedback we got from users really resonated.” Facebook’s new settings will give users “one simple tool” to control how their information is shared and a single click also will let users block all of their information from being accessed by third parties.