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, 2 replies)

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)