Financial crisis: What you should know

Crisis sparks confusion, questions about personal finance
By Allison Linn

The financial crisis that has gripped the country for the past two weeks has already created widespread confusion about what these problems might mean for ordinary Americans.

Now, news that Congress failed to pass a hotly contested financial bailout package is leaving some people even more uncertain about how their personal finances might be affected.

While the bailout is principally aimed at the financial system, the impact of not passing it could be felt throughout the economy.

"Don't expect things to get better in the next while," said Brian Bethune, U.S. economist with Global Insight. "The underlying economic conditions are not good, and this is not going to help." Continued...