Brades 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 island's "de facto" capital ever since. Several names have been suggested for the new official capital now being constructed in
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