There is a known way to hide it, but from memory you can't disable it.
Bob
WHY ohhh WHYYYY does Internet Explorer always recreate the "favorites" folder titled "Links"?? HAHA I know this is an EXTREMELY minor annoyance but is there any way to prevent that?? haha

Chowhound
Comic Vine
GameFAQs
GameSpot
Giant Bomb
TechRepublic