Volcano (Jimmy Buffett album) Volcano (Jimmy Buffett album) Volcano is the ninth studio album by American popular music singer-songwriter Jimmy Buffett and is his 11th overall. It was released in August 1979 as MCA 5102 and was his first release on that label after its absorption of ABC Dunhill. The album and its title song are named for the then dormant Soufrière Hills volcano on the island of Montserrat in the British West Indies where Buffett recorded the album in May 1979 at AIR Studios. (The studio was severely damaged by Hurricane Hugo in 1989 and Soufrière Hills erupted again in 1995.) Additional recording
Long-Term Capital Management September, LTCM's equity tumbled from $2.3 billion at the start of the month to just $400 million by September 25. With liabilities still over $100 billion, this translated to an effective leverage ratio of more than 250-to-1. Long-Term Capital Management did business with nearly every important person on Wall Street. Indeed, much of LTCM's capital was composed of funds from the same financial professionals with whom it traded. As LTCM teetered, Wall Street feared that Long-Term's failure could cause a chain reaction in numerous markets, causing catastrophic losses throughout the financial system. After LTCM failed to raise more money on