I agree that we are all paying the price for the toxic borrowing arrangements that were secured. However, it's all too easy to assess and criticize with the benefit of hindsight. I'm not saying Briscoe is the greatest CFO ever, but how do you know what the alternative would have been, or at the time if there even was an alternative. One very likely alternative is that the company could easily have gone out of business- and perhaps with a more formally trained but less tenacious CEO it would have. Then we wouldn't even be having this discussion, because there would be no company. And because others didn't possess his insight we wouldn't be in a position to at least have a chance to benefit from the wealth Liberty holds in its impressive roster of claims.
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