Is that safe?

This hanging electrical wire on our block has been in this state since we moved in.  Doesn't seem safe, but also doesn't seem to be of concern to the electric company or the city so I'm hoping it's okay.  We do see an abundance of electric wires intertwined like you see in developing countries in certain parts of the neighborhood (I'll add pictures soon on that).

One things for sure, this would not fly in Manhattan :)  Oh living in the outerboroughs (which sometimes feels like another country)!