Recently, there were privacy issues with AskEraser. See AskEraser: Privacy Feature Needs An Overhaul Says Privacy Group. Now, under the privacy scanner is Google Reader as there have been discussions on some blogs. The issue about privacy started with Google Reader's new sharing feature, that allowed all the contacts in your Gmail or Gtalk contacts' list to share your posts.
The problem crops up once you'd click on the share button, all those in your contact list would be able to track your selections. Now, the issue arises that you might not want to share them with every Tom, Dick and Harry in your contact list. Further, that there's no granular component to control what you want to share, meaning you can't pick 'n' choose the contacts you want to share your posts with. The most probable consequences of this appears to be that it could make you vulnerable to scores of spammers.