If you have a "finished basement" then you may have more trouble then that carpet!
Paneling, and other wood or coverings are notorious for absorbing water and wicking it up the wall, especially the studs that hold the outter skin of what ever material you use...
(Its why people recommend that you use treated lumber as a sill plate, then put your pine 2X4s on top of that).
Direct fans to the bottom of the walls, if you DO have treated lumber as sills.
As for the carpet, if it stinks after drying, you can try cleaning it...
(When I have mold, I use Bleach to kill the mold. I recently started to use bleach and borax {As in 20 mule team Borax} to prevent the mold from coming back---will have to let you know how that works, as we just did this last week, and it will take a long time to get it back because I plan to move the washer out of the basement, but, its recommended by the "Queen of Clean" on DIY Network).
Personally, I would pitch the rug! Bleach and scrub the concrete with a mixture of 1/2 cup of bleach and a 1/2 cup of borax. That should kill the mold and prevent it from coming back. Get indoor outdoor carpeting and have it down there for your "next adventure"
Jesse