You are totally right, its a very sad thing. And especially sad is, it happens time and time again. In the late 1920s, during the Dotcom bubble or even back in the 18th century.
The people you call wizzards walk away with their pockets full of money, while the majority is left behind with their existence destroyed, may be homeless and whatever.
But - in my opinion - it is not just sad. Its a crime. And the criminals responsible for that need to be stopped and punished, else this will never end.