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 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