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Tough Economy Turns into ExhibitMarch 26, 2009 By: Mackenzie Allison
According to a Reuters’ article, New York City's Museum of American Finance opened the exhibit “Tracking the Credit Crisis” on Wednesday, which provides a timeline of the events that led up to the current recession and translates the terms "securitization," "liquidity," and "derivative,” which are normally associated with the current state of the economy, for the average person.
The museum is near the New York Stock Exchange and the exhibit records events on Wall Street from February 2007 to February 2009, highlighting such events as the Lehman Brothers' bankruptcy on September 15, 2008.
The last date on the timeline is March 2, 2009, when American International Group Inc. announced a loss of $60 billion in the fourth quarter of 2008, the largest loss in U.S. corporate history.
According to the article, the museum says its mission is to reaffirm the power of an open, democratic, free-market economy and the exhibit explores some of the failures that led to the current crisis.