[FrenchAmerican]

Indeed, but that's also true for any large organization, whatever their status: public, private, nonprofit.

I witnessed large sums being spent for very dubious reasons in private firms, mainly in order to meet ridiculous demands by executives. Show-off features despite no interest from customers, "visionary product" e.g. implementing a blockchain or "artificial intelligence" that classic algorithms could do as well for much cheaper.

The idea that private entities pay more attention to money than public entities is a prejudice. At least in modern developed democracies.

Financial scandals in private firms tend to be muted in order to preserve the external reputation: hence the impression that public entities are less careful.

It's all the same everywhere, no general rule in that matter.