A US debt default will have 'unquantifiable' adverse consequences and unthinkable long-term implications, Wall Street experts warn

• A group of 17 top financial experts warned of "unquantifiable" consequences to come if the US defaults on its debt.
• In a letter addressed to Treasury Secretary Janet Yellen, they made the case for possibly repealing the debt limit altogether. 
• The group warned that the ongoing political deadlock is particularly harmful in the midst of the banking turmoil. 

A group of Wall Street experts and high-level financial executives have warned of "unquantifiable" adverse consequences should the US government default on its debt, and made the case for possibly repealing the borrowing limit altogether.