Busted: no. MP are legal so the chances of getting busted are very small, even in a MP that the LE happens to have in sigh because they suspect it of hiring minors, having dope inside or being linked to organized crime: you would have to be there at the exact moment of the bust. If you stick to the well known and well reviewed MP, and there are many, your chances are almost nil.
Video tapped: no. Unless you believe the funny reports about video cameras in the rooms of MP and all the fabricated stories about them (some of them on this forum, none ever proven with credible facts), there is no reason to be scared about that.
Blackmailed: nyes. Some indys (both sp and mp) have what you can call politely strong personalities and/or develop for obvious reasons, strategies to defend themselves. When they feel insecure, some tend to take extreme preemptive measures like telling you they can reach your employer or your wife. It happened to me once in the past after a forum disagreement (not linked to any any client-sp relation, i was not a client of her) with one of them. She did not act and probably never had the intent to do so.
Blackmail problems are unpredictable but very rare: it is a too dangerous game to play, far more dangerous then simply reporting the issue to LE if they are trying to protect themselves against dangerous clients.