As a Mod, I would like to answer this. There are a few issues at stake here:
1) Moderators are usually nominated. In fact, I think I know of only one moderator that ask and they were nominated prior to them asking. I would have to question anyone's motives if they request to be a mod. Simply put, power is best in the hands of those that do not want it rather than those that do because those that do not want power are less likely to abuse it.
2) A discussion about the moderators qualities are then discussed amongst the other moderators. We look at quality of posts, level headedness, the length of time in the forums (so quantity has some role but not as much as quality) and whether their personality at the time is such that they would make a good moderator.
3) Once set up as moderator, the person is watched to make sure that they are not abusing their power. There is also an appeal system in place so that someone can go higher if they feel is wrong.
In short however, WP is a private place that allows the public in. Think of it in terms of a food court in a mall. As long as you follow the rules, you are welcome. If you feel like flaunting the rules, you will be asked to leave or if you refuse to leave, forced to leave. The right to create the rules rests solely with Alex. Sometimes though, the rules have to be made to the lowest common denominator to allow all to participate. I have seen instances of children as young as 7 and 8 using this site. At least Alex had the common sense to create a place where adults can be adults. Other than that place, we do ask that the language is kept to PG. Not alot to ask for IMHO.
Finally, I would like to give a few observations as a mod and now as an admin. Alex had requested a few times that I should be a mod and I refused. He eventually forced me to be a mod whether I wanted to or not. The first theng I learned is that no mod can play the role all of the time and not lose their insanity or the fun of the site. One mod does not read every new post that is posted. There is no time for that. What usually happens is that one mod picks up on something and discusses it with the other mods. We mods have strict guidelines to follow. This includes discsussions, when to issue warnings, and recordkeeping. One mod does not have power to exert their opinions on another and quite a few times, a vote is put into place on how to deal with a particular situation. The mods however still have the right to enjoy the site.
As a final note, someone who is a mod or especially admin can do major damage to the site if out of control. A mod can simply request that someone be banned, it is the admin that actually does the task. We have to be very selective or the site will be destroyed.
Thank You
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Louis J Bouchard
Rochester Minnesota
"Only when all those who surround you are different, do you truly belong."
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Fred Tate Little Man Tate