Fallout: The Financial Crisis

With California's $24 billion budget gap still unresolved, the state will start paying its bills with IOUs. Sarah Gardner reports on how this may affect state vendors.

The financial industry says it will attempt to block the Obama administration's proposal for a consumer protection agency. But its lobbyists may have a difficult battle ahead. Steve Henn reports.

The U.S. Treasury's plan to get private investors to buy mortgage-backed securities is expected any day now. But it turns out some banks have been quietly loading up on these bonds for months now. Amy Scott reports.

Doug Foreman, director of equities at Highmark Capital, talks with Steve Chiotakis about how important the latest ADP employer services numbers are, and whether we should take comfort in the European manufacturing numbers.

The Treasury Department may finally roll out the Public-Private Partnership program, where the government encourages private investors to buy troubled assets. But it may be less ambitious than originally planned. Ashley Milne-Tyte reports.

Nearly all states have had to make program cuts to deal with big budget shortfalls. Mitchell Hartman reports that despite all the budget cuts, the pain is not nearly over.

Despite working into the night, California lawmakers failed to balance the state budget, which means IOU's may be issued in lieu of payments for the first time in nearly two decades. Sam Eaton reports.

As a new fiscal year approaches, Arizona, Mississippi and Indiana are among a handful of states whose legislatures could shut down if they fail to balance their budgets by July 1. Jeff Tyler reports.

Smith, Moore and Company analyst Juli Niemann talks with Steve Chiotakis about whether a moderate decline in home prices is a nice way of saying the panic is gone, and whether the consumer confidence report is more happy talk or happy news.