Link submission forum
 

I want to be able to create a forum of hyperlinks to external sources, similar to Fark (http://www.fark.com) whereby registered users can post a thread title and add the url into the body.

The forum display page would then list the headlines as seperate threads which link directly to the url. If integrated into vBulletin I'm hoping I will then be able to moderate threads if needed or even only allow permission to post to certain usergroups.

Is this a hack that has already been done or, if not, is it possible?

There is one similar called vbadvanced link directory but you have to pay for it. I'm looking for something similar to this as well.