Montserrat of Montserrat is approximately east-southeast of Puerto Rico and southwest of Antigua. The island lies north-northwest of Suriname and French Guiana (France). It comprises and is gradually increasing owing to the buildup of volcanic deposits on the southeast coast. The island is long and wide, with rock cliffs rising above the sea and a number of smooth bottomed sandy beaches scattered among coves on the western (Caribbean) side of the island. Montserrat has two islets, Virgin and Statue Rock. In July 1995, Montserrat's Soufrière Hills volcano, dormant for centuries, erupted and soon buried the island's capital, Plymouth, in more than
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