Excuse me, there is a conduct policy, its part of everyones WB account, found in TERMS AND CONDITIONS:
"...You may not, under any circumstances, do any of the following: (a) publish, post, distribute or disseminate defamatory, infringing, obscene or other unlawful material or information via iEN; (b) use iEN to threaten, harass, stalk, abuse, or otherwise violate the legal rights (including rights of privacy and publicity) of others; ..."
I did'nt suggest to establish a police, but a peer structure. Many of us work in companies which use this concept with good success. It can be put in place with no costs for IEN.
What is a peer anyway? A typical peer is an experianced colleague, not a boss. He is woven in with the other members the group he is active in, at an eyeheight level. If a peer has certain powers, these powers should only be used (and usable) to HELP or GUARD, not to OVERPOWER or be a tool in a power struggle. Therefor it should be discussed which powers that could be.
The WB community needs to get along WITHOUT Comunity Managers most of the time, because, simply, sleepy has a live and cant be online 24/7. But there are many experianced people around that would cover most of the time.
I've put this on the forum to find out what the comunity thinks about it. Maybe there is no need at all for anyone.