This year, we’ve seen prominent financials companies such as Lehman Brothers, AIG, Fannie Mae and Freddie Mac on the ropes amidst a slumping economy. Although Senator John McCain seems to believe the economy is in good shape, truth is working middle class Americans have felt the pinch first but now it’s the time for the upper middle class, those making $100,000 per year and upwards to start tightening their belts.

While the average middle class American might be fortunate enough to own a home and a car, it’s the upper middle and upper class Americans who live and die by their stock portfolios. Wall Street’s woes are going to have a direct impact on suburban, upper middle class communities around the US and not just because the proposed $700 billion bailout will result in higher taxes for most Americans. The pain will spread beyond the banks themselves to their back office and IT operations, accountants, lawyers, and other professional service employees who depend on work from finance companies.

BusinessWeek compiled a compelling list of Towns That Will Be Hit Hardest by Financial Crisis. The list is based on the amount of a city or town’s population that is employed in or around the finance and real estate industry.

1. Darien, Conn.
Share population in finance and real estate: 27.23%
Nearest large city: New York
Population: 20,666
Median salary: $168,687

2. Bloomington, Ill.
Share population in finance and real estate: 26.31%
Nearest large city: Chicago
Population: 70,395
Median salary: $54,971

3. Hoboken, N.J.
Share population in finance and real estate: 23.33%
Nearest large city: New York
Population: 40,002
Median salary: $81,356

4. West Des Moines, Iowa
Share population in finance and real estate: 22.15%
Nearest large city: Des Moines
Population: 54,627
Median salary: $61,303

5. Garden City, N.Y.
Share population in finance and real estate: 20.22%
Nearest large city: New York
Population: 21,671
Median salary: $121,831

6. Summit, N.J.
Share population in finance and real estate: 19.74%
Nearest large city: New York
Population: 20,618
Median salary: $111,497

7. Westport, Conn.
Share population in finance and real estate: 19.39%
Nearest large city: New York
Population: 26,822
Median salary: $137,133

8. University Park, Tex.
Share population in finance and real estate: 18.83%
Nearest large city: Dallas
Population: 24,582
Median salary: $110,976

9. Wethersfield, Conn.
Share population in finance and real estate: 18.73%
Nearest large city: Hartford
Population: 26,146
Median salary: $63,359

10. Mountain Brook, Ala.
Share population in finance and real estate: 18.66%
Nearest large city: Birmingham
Population: 20,654
Median salary: $115,148

Jeremy Nowak, currently president of The Reinvestment Fund and a board member of the Philadelphia Federal Reserve, said the cities and towns on the list aren’t necessarily in trouble just yet. Much of it depends on the steadfastness of the local employers and a potential resurgence of businesses. Not all banks are doing badly at this juncture, he said. And the insurance industry is, so far, relatively healthy, despite the myriad of troubles besieging industry giant AIG (American Insurance Group).

“These are places to watch,” Nowak said. “This will be the starting point for future investigation, and not the answer.”