Review of 2008 - Part Three

July Continued problems in the banking sector led the FTSE 100 into an official bear market, with the index down more than 20% from its peak, a situation that would get much worse in later months. John Templeton, a legendary investor, philanthropist and founder of the extremely successful Templeton Growth Fund, died on 8 July at the ripe old age of 95. The FSA banned a total of seven mortgage brokers in July 2008 as it cracked down on poor advice and bad practice in the industry. Lending intermediaries were further damaged by news that much of the secured loan market had shut down aft...