Now the catch!
Google is not sleeping over this problem. It has launched the Google Bomb detection Algorithm which works as a preventive measure. What it exactly does is that it minutely scrutinizes the quality and quantity of back links. So bombing someone as of today is not easy!
Personally, I would term it as a completely negative approach to search engine optimization (SEO) and as per my opinion, serious SEO’s should stay away from even attempting such techniques. After all, do you want to be at the wrong side of fence… when it comes to Google?