> The problem is that people who are in charge of other people's money will risk it for various reasons, often due to a conflict of interests.

Thank you for your response.

I wanted to amplify this point. This sort of thing is very common in hierarchical organizations. de Mesquita and colleagues have a model that fits reality quite nicely, and indicates a reason for this behaviour.

https://en.wikipedia.org/wiki/The_Logic_of_Political_Surviva...