Wenger seems to have taken it upon himself to be Atlas holding up the globe that is Arsenal, and no doubt whilst he obviously buckles under the strain he hasn't dropped the ball so to speak.

The club make North Korea seem transparent and open, so it's hard to judge the man fully without getting a real sense of what goes on at the club. I think the money is there to spend in terms of transfer fees, i think the problem is that he knows he has to get rid of players off the wage bill before he can sign anyone....and 2013 a lot of player's contracts are up so that should help exponentially....my worry is that players like Bendtner and Chamakh are still in contract until 2014 and they are never going to lower their wage demands in order to play for a smaller club.
We can blame Wenger for that but even assuming he was solely responsible for contract negotiations (which i highly doubt) it's only endemic of the modern game.