Future of Leveraged Finance

Can anybody in a LevFin group comment on what current analysts are doing day-to-day? What they see as the future of LevFin? and whether Analysts who will start in July 2009 should even consider joining the LevFin or Financial Sponsors Groups at BB banks?

If I were to join a LevFin group, is there a possibility that the group could get dissolved (kind of like JPM firing so much of its M&A staff)?

Please excuse my naivete and thank you for helping.