Google Launches Disavow Links Tool
searchengineland.com
searchengineland.com
Also worth noting that Bing rolled this same feature out in June of this year[2].
[1]http://trafficplanet.com/topic/2369-case-study-negative-seo-... [2]http://www.bing.com/community/site_blogs/b/webmaster/archive...
It's odd they launched this though, as it's directly acknowledging 1) that "bad links" can hurt your rankings and 2) that the algorithm is not doing a good enough job/keeping up well enough.
I have one site with many damned links maked for the competence.
(Update: reading the official announcement and viewing the Cutts video, seems there's also a strong aspect of "pleading for amnesty" provided by this tool, for erasing past sleazy link-building efforts. Together with the repeated admonitions "most people shouldn't use this power user tool", it almost seems like a trick: like when the police publish that people with outstanding warrants have won a sweepstakes.)