Unfortunately it was not just a bad Olympic; it's true we had bad luck on some particular events, but overall the disaster was predictable. After the fall of communism (1989) our country "managed" to develop a strange type of free-market economy. The state assets got robbed by wiseguys, and individual businessmen were interested only in short-term profits. On top of this, the sports infrastructure was getting old and non-competitive, but no one even thought of building new sports halls. Romania kept getting some results in major competitions due to athletes who were born and raised before 1989, thus the warning signs were ignored by the sports activists and the public. To sum it up, the major problems are:
1. lack of sports infrastructure
2. huge robberies of sports federations funds
3. lack of interest from old coaches to update their knowledge/training methods.
I don't think these problems will be solved in the near future, especially the one mentioned at nr.2, which is crucial. Romanians still have the fascination of robbing money (mainly from state, but not only from state); as long as this habit is alive, sport doesn't have a chance to regain its former glory.