Throughout my programming career, I've noticed a strong correlation of bugs with code that was given less attention (it was deemed to be an easier problem to solve, or compartmentalized and solved later).
I don't think it's fair to claim people were stupid just because a detail was overlooked. Perhaps they could have allocated their attention differently, but without knowing all of the trade offs it's hard to say they made a bad choice.
I think that people have a finite amount of "attention" that they can devote to things during a day. Furthermore spending attention on a task seems to consume energy. It's reasonable to think that occasionally some items get less attention than they should.
As with the UK ($2 billion) 'mistake' sent unencrypted and unregistered, the institution is dumb, not its 'component parts'.