In a recent interview with GQ Magazine, Billy Ray Cyrus admitted that he wishes "Hannah Montana" had never happened,

“I hate to say it, but yes, I do. Yeah. I’d take it back in a second. For my family to be here and just be everybody okay, safe and sound and happy and normal, would have been fantastic. Heck, yeah. I’d erase it all in a second if I could.”

Cyrus also admitted that he wished he was a more strict parent to Miley.  Contrary to popular belief, he is not Miley's manager.  And it was Miley's people that made sure he was there to protect his daughter,

"Every time something happened in Miley's career, every time the train went off the track, if you will—Vanity Fair (where a then 15-year-old Miley was photographed apparently naked with only a sheet covering her front), pole-dancing (Miley performed a suggestive pole dance at the teen choice awards), whatever scandal it was—her people, or as they say in today's news, her handlers, every time they'd put me... 'Somebody's shooting at Miley! Put the old man up there!' Well, I took it, because I'm her daddy, and that's what daddies do. 'Okay, nail me to the cross, I'll take it....' "
In a time where parents of troubled young stars, like the Lohans, spend most of their time blaming each other, it is refreshing to hear a celebrity parent be honest with where things went wrong.  The article is definately well worth the read.