When persons acquire wealth without acquiring discipline, it is almost always a disaster. It takes great discipline to manage wealth. Wealth creates temptations and evil opportunities that make it easier for a camel to pass through the eye of a needle than for a rich man to enter the kingdom of heaven.
The very process of acquiring wealth creates and demands a discipline that is forged through competition, through day to day decision making, through risk and reward, through success and failure, that tempers the steel of a person, and that molds in one the required attention to those skills and abilities that yield successful management.
When you put wealth in the hands of people who did nothing to acquire the wealth, and who lack any of the skills of abilities required to administer the wealth, then you deserve what you get.
This is the problem with our government. It is run by bureaucrats who are administering vast sums that they have neither the ability or discipline to manage.