"GO WITH THE FLOW AND TRUST IN THE UNKNOWN." Above.
This is an open exhibition -
Everybody passing the respective street in which it is done or Everybody who is reading this news can see it.
Admission: Free
*** American International Group, Inc. (AIG) (NYSE: AIG) is a major American insurance corporation based at the American International Building in New York City. The British headquarters are located on Fenchurch Street in London, continental Europe operations are based in La Défense, Paris, and its Asian HQ is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was the 18th-largest public company in the world. It was on the Dow Jones Industrial Average from April 8, 2004 to September 22, 2008. It suffered from a liquidity crisis after its credit ratings were downgraded below "AA" levels, and the Federal Reserve Bank on September 16, 2008, created an $85 billion credit facility to enable the company to meet collateral and other cash obligations, at the cost to AIG of the issuance of a stock warrant to the Federal Reserve Bank for 79.9% of the equity of AIG. In November 2008 the U.S. government revised its loan package to the company, increasing the total amount to $152 billion. AIG is attempting to sell assets to repay the loans. So far the U.S. government has given the company over $170 billion. AIG became a target of criticism from the media, Congress, United States President Barack Obama, and the public following its allocation of about 165 million USD as bonuses to its executives. The CEO of AIG was grilled in both houses of Congress about the bonuses. This matter, and the large stake US taxpayers own in the company make the limits of US Government involvement in the daily management of the failing company a dilemma yet to be resolved.
Source: Wikipedia.
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