one issue here is that the op is excessively sensitive. look - the requirements are simply that: requirements. they are generally necessary BUT insufficient conditions to getting into a phd program. just take it easy, and stop posting like every rejection, or that every interview offer that others got you did not get is an earth-shattering event.
i do not want to generalise, but i suppose i might. i have spoken with quite a number of people who are interested in doing a phd in finance from my current institution, since... being who i am, the admissions committee chair likes to send the east asians who ask him about phd programs (big enough hint now?) to me. practically all of them think that as long as they tick the necessary requirements, they will get into a top program, but we know you need to show much more than that. further, hq is right on one point - most of these students have no idea why they want to get a phd, or what they are interested in. it is just another hefty piece of paper to swing around for them.