Saw this some days ago, but since it's of interest, blogging it now:
Google has launched an Affiliate Network.
This is the main site for the Google Affiliate Network.
This excerpt from that site says what it is about:
Google Affiliate Network connects advertisers and publishers who want to increase sales and drive leads through affiliate marketing.
As an advertiser using Google Affiliate Network, you'll discover pre-screened publishers who can refer consumer traffic to you. As a publisher, you can market your site to advertisers in the network; if selected to participate in an advertiser's program, you'll earn a percent of sales or a referral bounty.
Looks interesting. The site says that it is based on the DoubleClick Performics Affiliate operations which Google acquired in March 2008.