Brades in Brades include: Secondary students attend Montserrat Secondary School in Salem and sixth formers attend Montserrat Community College in Salem. Brades Brades (also Brades Estate) is a town and the "de facto" capital of Montserrat since 1998 with an approximate population of 1,000. The official capital of Montserrat at Plymouth in the south of the island was abandoned in 1997 after it was buried by the eruption of the Soufriere Hills volcano. Interim government buildings have since been built at Brades, becoming the new capital in 1998. The move was initially intended to be temporary, but it has remained the
Long-Term Capital Management of Union Bank of Switzerland resigned as a result of a $780 million loss incurred from the short put option on LTCM, which had become very significantly in the money due to its collapse. 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