Ok, I was under the impression that the two fans were on top of eachother.
I think your CPU may have fried. If you have another heatsink/fan that you've got to spare or borrow one from your friend try it with that. But first, make sure if it Intel and the same socket. Be sure to get an apply thermal grease. If you don't know how to do this, stay away from this idea. Maybe take it to someone who can help you out, I really can't do much unless I'm right in front of the comptuer.
Just on Intel, there is an additonal 4pin connector for power to the mobo in addition to the ATX power connector. Maybe that's loose.