Whitey - 1:33 am on Apr 25, 2012 (gmt 0)
value of upstream inbound links to some sites might be affected, which would affect downstream sites. In some cases, you might have inbound links from sites that are taken out, and it may not be your fault.
Not sure if it's part of this update, but i've seen a major drop with multiple blue chip brands using links and lot's of similar anchor text over the last few days. Previously they may have been protected by their high PR and brand reputation IMO.
Given the extreme competition, they felt obliged to play the link game to remain visible. Those links were often from "trusted" domains.
Not now. They've been replaced by lower quality brands and sites of less use to consumers, that used less aggressive tactics.