I just had a question from a person who wanted some quick Internet sites to follow the recent bill, "Emergency Economic Stabilization Act of 2008" that was approved by the Senate October 1, the House October 3, and signed into law by the President . Here's a 1 page summary of it: http://banking.senate.gov/public/_files/latestversionEESASummary.pdf .
Some news sites that I follow have some good up-to-date articles: CNN Money Magazine - special issue on America's Money Crisis, Google News - recent news articles on the Wall Street Crisis, and NPR's Economy Section news.
Federal Deposit Insurance Corporation insures individual bank accounts. Find current news of failed and merged banks, and under Top Search Results, find Failed Banks List, reports of Conditions & Income and Thrift Financial Reports for your bank, or use "Edie the Estimator" to calculate your FDIC insurance coverage for your deposit accounts.
And finally, what will it cost and how will it impact federal finances? Here's the Congressional Budget Office Analysis: http://cboblog.cbo.gov/?p=173