Omar and co. did try to improve the team after 2006, but the moves just did not worked out and after 08 many of the bigger moves made ended up being horrible.
Wilpon also spend, was it because his Maddoff scheme was allowing him to spend more since he was getting a boom from that? probably.
The farm could of and should of been better had the GM's be allowed to over slot and spend more on the draft during the decade. Abiding by the commissioners slotting rules hurt this franchise.
Trading away guys like Bell, Ring, Owens and Lidstrom were not bad moves when they were made, they also got guys like Burgos, Vargas and Bostick in return in some trades. Yeah Burgos turned out to be a murderer, Bostick never got s shot and Vargas has had a decent career after he was traded to Seattle, but those were minor moves. Nobody in their right mind thought that Heath Bell who sucked as Met would turn into an all star closer.
I do semi blame Minaya for not making in season moves as he had other assets, but in 2008 when he had a chance to get a reliever the guys that teams wanted were Niese and Martinez and he did not mortgage the future in those instances for better or worst.
The thing now is that the Wilpons have put their tail between their legs and are spending like the Pirates did for many years while they try to recuperate the monies lost over the last couple of seasons. This led to them losing a franchise player and maybe another one.