Hurricane Iris (1995) the northwest, the hurricane moved over Montserrat, causing additional problems on the island just weeks after the Soufrière Hills volcano began erupting. Officials on the island closed the primary airport due to the storm, which prevented residents from evacuating from the island from the volcano threat. Further north, Iris dropped of rain on Antigua, which destroyed banana trees and caused flooding in low-lying areas. Due to uncertainties in Iris' track, the government of Bermuda issued a tropical storm watch on September 1. This was downgraded on September 3 after the hurricane bypassed the island. Later, after Iris became extratropical, the
Long-Term Capital Management The fear was that there would be a chain reaction as the company liquidated its securities to cover its debt, leading to a drop in prices, which would force other companies to liquidate their own debt in a vicious cycle. The total losses were found to be $4.6 billion. The losses in the major investment categories were (ordered by magnitude): Long-Term Capital was audited by Price Waterhouse LLP. After the bailout by the other investors, the panic abated, and the positions formerly held by LTCM were eventually liquidated at a small profit to the rescuers. Although termed a bailout, the