It's not that simple IMO. He has taken $7M of the loan in the US. He could have taken the whole $25M and things would be 4x worse than now. I can point to many examples where he has been risk-averse.
Most of the problems come from too much optimism. Although it is easy to criticize him for that when the market is willing to beat the stock down to 5% of book. And he was unlucky with cattle prices although he could see it coming.
Simply making the wrong decisions strategically. Dan too. It's not just Solomon. But in general I've seen many improvemnts as well these past few years.
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