Arrow (musician) for Island Records' Mango label, with two further albums released on the label. Cassell also established himself as a businessman in Montserrat in 1973, owning the Arrow's Manshop store in Plymouth. When this was destroyed by the Soufriere Hills volcanic eruption, he relocated to St. John's. He organised a fundraising calypso festival on the island in 1996, in response to the devastation caused by the volcano. Cassell co-headlined Bermuda's Soca '96 festival, and continued to regularly release albums. In 1988, he was given the Living Legends award by the organizers of the Caribbean Song Festival and the Bahamas Tourist Board.
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