I misread you as saying that important ethical problems about FAI were being ignored, but yes, the idea that FAI is the most important thing in the world leaves quite a bit out, and not just great evils. There's a lot of maintenance to be done along the way to FAI.

Madoff's fraud was initiated by a single human being, or possibly Madoff and his wife. It was comprehensible without adding a lot of what used to be specialist knowledge. It's a much more manageable sort of crime than major institutions becoming destructively corrupt.