Less than two weeks ago, Cameron Douglas was sentenced to five years in prison on a drug conviction. On Monday, Michael Douglas spoke to the 'Today' show, admitting his failings as a father and saying he believes the sentence was "adequate."

"My son was a drug dealer and he's been trying to kill himself for a while," he said. "I can't condone his behavior and I think the court recognized his drug addiction as well as the crime that he committed," he said. "It's an adequate, I think, amount of time for anybody to spend in jail."

The 'Wall Street' icon told Matt Lauer that he has "taken blames about being a bad father" to Cameron, but pledges that he has taken a different approach with his children with Catherine Zeta-Jones, Dylan, 9, and Carys, 7.