If you were operating a web site in Germany, and your site had a deep link to a Stackoverflow article, and that article contained copyrighted code from a German company (posted by an employee, for instance), that company could easily get you in trouble at any German court.
US courts have been much more lenient, so if you are doing business solely in the US, I would not worry too much, as long as you don't violate the Terms of Use here.
So, I think the answer "Of course, it is a public site" does not do justice to the potentially complicated legal issues that can arise when you take the question into an international context.
Some examples (only the big ones make it into English language news):
http://www.linksandlaw.com/courtdecisions-germany.htm
http://www.theregister.co.uk/2005/04/11/heise_not_allowed_to_mention_slysoft/
http://news.cnet.com/8301-1023_3-10064740-93.html