I agree that we've pissed money away on shite only to see them fail, it's been one of my biggest bugbears, however, I don't believe Jenks is as bad as he's being made out to be.
It is also a big factor that he is a fan of arsenal and not just one one who plays for us. It's those types of players that we've been lacking in recent years. One day he could be the type of player who the team depends on to rally them around when heads drop, etc.
There too many of those types around in the modern game.