Internet Downtime Reports?

Sandman asks: "Hi Slashdotters, I'm looking for a website or mailing list that has frequent updates on what's down and where online. Something like: The 155mb link between NY and Amsterdam is down, all traffic using 45mb link.. should be fixed in 4 hours. Any pointers would be greatly appreciated. " This sounds something like an Internet Traffic Report. Although I doubt the existance of such a resource, what tools would one need to set up something like this on their own?