Yesterday the 700 billion dollar rescue plan was shot down by Congress. Of course both sides are pointing fingers at the other today. But it leave everyone else left to face even more hardships before it is all said and done. I watched the Dow fall over 700 points last night. It was the biggest drop of the Dow in history. Now like me, most people probably are wondering what that means. It means the financial institutions lost over a trillion dollars in value. Now today the Dow is moving up a bit but not very much due to the concerns Congress will stall the bill again. The next vote is set for Thursday and will have either a good or worse effect on the economy. I started wondering how much this effects me directly. Well it is simple. Banks house the countries debt, and in return gain profit off of interest right? Well if the banks are losing money that means they can’t float loans. If they can’t float loans nobody can buy house, cars, get credit cards, and many other credit based things. Also this effects millions of people payroll. Many companies back payroll with a credit honor system using payroll processing companies. If nobody will lend money people won’t get pay checks. This can also effect jobs that use credit to sell things. Like car dealerships, houses, small business loans for new businesses. This crunch will be felt by everyone. If your reading this thinking man I already feel it, it will get worse to come if this bill isn’t passed. But only time will tell.