Re Repo’s
A problem at year end was not likely to be serious, however did they ‘hide’ the real problem, by including the problem in their guestimate for yr end and now year end is done, the problem is out in the open again.
Something is very wrong …but PM’s may not react, as so far no-one has said what is really wrong and those that know are probably short upto their eyeballs, in PM’s.