You have evidence to prove we weren't in the top ten highest spenders on fees? Pretty sure that was the case and don't recall too many clubs throwing massive money around at the time, outside the big boys of course.
Again, you're being very selective with your choice of the final window to prove how little Wolves spent, at that time we looked dead certs for the drop, had done for a good while too, so you're back to a Championship style gamble by spending. There is no guarantee your spending is going to provide success in the battle for survival at that point and you're potentially facing a huge loss in earnings, so it's no surprise Morgan didn't throw money at it in that situation.