or download this
s/href\s*=\s*/href=/ig;
s,(?<!(?i:href=))((?:http|ftp|news)://\S*),<a href="$1">$1</a>,g;
...
You might try to think of something besides '\S*' also, in case
the user puts in a period after the href, or puts it between
parenthesis or ???.