Soufrière Hills century in Montserrat. When pyroclastic flows and mudflows began occurring regularly, the capital, Plymouth, was evacuated, and a few weeks later a pyroclastic flow covered the city in several metres of debris. The first phreatic explosion in this new period of activity occurred on 21 August 1995, and such activity lasted for 18 weeks until it caused an andesitic lava dome formation. This was initially confined by a sector-collapse scar. This period lasted for another 60 weeks, after which there were major dome collapses and two periods of explosive volcanic eruptions and fountain-collapse pyroclastic flows. The explosion blanketed Plymouth, away,
Long-Term Capital Management of a large loss, like the payouts from selling an out-of-the-money naked call option. After the bailout, Long-Term Capital Management continued operations. In the year following the bailout, it earned 10%. By early 2000, the fund had been liquidated, and the consortium of banks that financed the bailout had been paid back, but the collapse was devastating for many involved. Mullins, once considered a possible successor to Alan Greenspan, saw his future with the Fed dashed. The theories of Merton and Scholes took a public beating. In its annual reports, Merrill Lynch observed that mathematical risk models "may provide a