I wrote he was in over his head when he bought LFC.  Now this:

"Henry also admitted mistakes during Fenway Sports Group's two years of Anfield ownership, accepting they have overspent on inflated transfer fees and unrealistic wages." 10:11AM BST 03 Sep 2012

"We are still in the process of reversing the errors of previous regimes. It will not happen overnight. It has been compounded by our own mistakes in a difficult first two years of ownership. It has been a harsh education, but make no mistake, the club is healthier today than when we took over." 

http://www.guardian.co.uk/football/2012/sep/03/liverpool-owner-henry-open-letter

http://www.telegraph.co.uk/sport/football/teams/liverpool/9517023/Liverpool-owner-John-Henry-expresses-disappointment-over-failure-to-add-to-strike-force-in-transfer-window.html