Bert Halliday, first vice president and senior financial adviser at Merrill Lynch (nyse: MER - news - people ) in New York, emphasizes the family dynamics of buying long-term care.

FORBES: Can Your Finances Survive Long-Term Care?

The city had no choice, said Steven Goldfield, a senior counselor at Public Resources Advisory Group and a financial adviser to the receiver.

WSJ: Bottom Falls Out of Debt-Ridden City

Albert Wojnilower, senior adviser to Monitor Clipper Partners, which manages private-equity investments, predicts enormous increases in financial risks for everyone in his "Life Without Treasury Securities, " a 16-page essay that is must reading on Wall Street these days.

FORBES: Treasurys, The Endangered Species