I used to be a member of corvetterforum . com, which I believe IB owns now. But way back when I was a member there, the site kept growing and growing, the owner/admin chose friends to be mods and super mods, not those people that had shown integrity. Long story short, if the MOD didn't like you, or what you posted, they would shut you down, banned people and deleted posts/threads. A lot of us left when a good friend started digitalcorvettes . com
I've seen power run amuck on a large site that the owner/admin couldn't keep up with. I have trusted people on my staff, 2 retired military, 1 USMC officer and another veteran like myself. I trust these guys and know they have sound judgment but they still clear it with me when someone gets banned.
Everyone has their own ideas of how to run their sites, I wouldn't giving banning power to a mod.