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 Long-Term Capital Management Long-Term Capital Management L.P. (LTCM) was a hedge fund management firm based in Greenwich, Connecticut that used absolute-return trading strategies combined with high financial leverage. The firm's master hedge fund, Long-Term Capital Portfolio L.P., collapsed in the late 1990s, leading to an agreement on September 23, 1998, among 16 financial institutions—which included Bankers Trust, Barclays, Bear Stearns, Chase Manhattan Bank, Crédit Agricole, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs, JP Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Paribas, Salomon Smith Barney, Société Générale, and UBS—for a $3.6 billion recapitalization (bailout) under the supervision of the Federal