Write it all down, now before you get flustered and forget what the main points are.
Document it right now, every tiny detail you think is important because you will forget as you get more upset.
Send the report to everyone who matters, cc the bugger to everyone else. Keep it as short as possible, utterly to the point and polite in every respect. It's ok to suggest a meeting to discuss the issues, but do not suggest that it's already broken.

You have done all you can do at this point.

Go back to work and continue to do as good as job as you are able to and don't let what seems like a mountain put you off. It's not your fucking mountain and therefore you don't have to move it.

Your email will show that you have pointed at the mountain in a timely fashion and brought it to everyone's attention.

Chill. This works for me. My friend told me this about what seemed like unsurmountable terrors in his expanding business:

When I owed the bank 50K I was worried.
When I owed the bank 250K I was very concerned
When I owed the bank 500K I got an ulcer
When the debt reached a million and I was still trading with the bank's help and still working and living, I realised I could never pay it back and stopped worrying all together; it was their problem now, not mine so I got on with what I do best.

He's still doing a good job many years on.
( Infidel , shit and wrong, Mon 27 Feb 2012, 19:22, 1 reply)

Have I missed something here
His debt is increasing steadily and he has no prospect of paying it back, and he thinks it's not his problem?
( MatJ LOOK, Tue 28 Feb 2012, 8:04, closed)

Yeah.
It's actually from a very old joke.

Guy can't sleep, wife asks what's up. He says 'I'm very worried, I owe the bank a million quid and I can't pay them'.

So wife calls the bank manager, says 'My husband owes you a million quid, right? Well, he can't pay you. Bye'.

'OK, now let them worry about it'.

I suspect there's some truth in it. At £50k, you have some prospect of paying it back, but you might have to sell your house to do it. You'll spend all day trying to work out how to do it without losing your house.

At £1million, you have no hope, so you just stop worrying. You've lost your house anyway, fuck it, might as well go down the pub.
(username failed moderation, Tue 28 Feb 2012, 9:20, closed)

Bingo.
He drove a Bentley and owned nothing. He really did hit over a million in debt and in reality the bank (or its shareholders and investors) owned the lot. He now runs numerous large successful hotels which I doubt he owns much of either.
( Infidel , shit and wrong, Tue 28 Feb 2012, 13:02, closed)

Aye, on the face of it that's exactly how it looks.
He was running one, then several, profitable companies. The bank kept on lending and lending to increase and grow. What he said was true. If he'd stuck at the first and not grown it, he'd have paid it all back fairly quickly.
( Infidel , shit and wrong, Tue 28 Feb 2012, 12:57, closed)

Fair enough
I read the OP as an implication that he was going bankrupt and didn't care.
( MatJ LOOK, Tue 28 Feb 2012, 21:41, closed)