So, I think we should say something, and be prepared to go to the final consequences to right this wrong. It shouldn't matter that 'IBA' is the oldest member around, or that he makes financial contributions to the site; as far as it appeared to be, Ringbearer's Code of Conduct was for all members, not only new ones without a credit card.
Here are the relevant parts. I'm sure 'IBA' will be identified as an aggressor of the following:
"BEHAVE YOURSELF. Debate in a thoughtful, respectful manner at all times. Treat other people you encounter in forums just as you would treat them in person -politely."
"When expressing a dissenting viewpoint, please be careful how it is phrased. No bashing, ridicule, or slander will be tolerated."
"PLEASE REMEMBER THAT DISAGREEMENT DOES NOT EQUAL RIDICULE."
So, please, state your opinions and help writing a letter to the mods, to make our point clear, so they can finally do something about it. Even if you could not care less about what happens on RB from now on, be supportive. I'm sure it's better if this goes as a group thing rather than as one, isolated, disgruntled member picking it at the site's management.