Why no wolverine?

This might sound like a totally inane question… but I’ve always wondered: why does the University of Michigan not employ a wolverine mascot? I’ve always loved the handsome and cheery Bucky the Badger, and the disgruntled mumblings of Michigan alumni when I ask them this question (“you just don’t underSTAND”) lead me to believe the answer is either lost in the mists of time or truly moronic. So… which is it? Free the wolverine, man!