You obviously have no clue about anything to do with Tottenham, but you are entitled to your opinion on the subject.
The only thing I would say that Levy has been found wanting in and probably handed poorly other than the sacking of Jol, (which should have been done before the start of last season given he had lost control of the dressing room) was the handling of the Berbatov saga, and the threatening of Man Utd.
The way Spurs as a business is run is nothing like Newcastle, and as Tunney has quite clearly pointed out, Spurs in that sense are very well run and one of the best financially sound in the Premiership.
As for blowing good money on bad players, I dont think Spurs are. However, unlike some, they have taken longer than other players to adapt to the Premier League, in fact, the only major issue there is that they havent signed any players with Premier League experience and instead gambled on those foreign signings adapting quickly.