Inside the shady world of Asian finance
By Kim Young-jin Phillip Y. Kim, author of "Nothing Gained"After the 2008 financial crisis, plenty of ink was spilt to explain why stock markets plunged and governments bailed out large financial institutions. For those unversed in the jargon of international finance, it was not an easy event to understand.The evictions, foreclosures and unemployment that followed in some parts of the world, of course, were a gut-punch for millions. But factors such as sub-prime mortgages and high risk, complex financial products didn’t exactly make for riveting reading.Phillip Y. Kim, a first-time novelist with a long history in the banking industry, is out to change that. His new book, “Nothing Gained,” is a thriller that paints an intriguing, if unsettling, portrait of the world of investment banking. Having worked for 25 years at such firms as Lehman Brothers and Morgan Stanley, the Korean-American is well placed to shed light on some of the more colorful, if unsavory, aspects of the industry."Nothing Gained" covers the world of interest banking. / Courtesy of Penguin
Jul 19, 2013